Houston-Phase 6 of Iran's South Pars has been commissioned and phase 7 is due for commissioning this month, according to a report from FACTS Global Energy. Phase 8 of South Pars is expected to be commissioned in April. Each phase of South Pars can produce 1.3 Bcf/d of gas and almost 52,000 barrels a day of condensates, according to the report written by Fereidun Fesharaki.

StatoilHydro ASA, one of the developers of Iran's South Pars field, may lose more than $400 million because of delays and lack of infrastructure, energy consultant FACTS Inc. said in a report. "National Iranian Oil is planning to make special provisions to keep Statoil whole, but there are unlikely to be any profits from the operation after so many years," author Fereidun Fesharaki said in the report.

There is no significant increase in sight for Iran's crude oil production, according to FACTS Global Energy Group. In a report distributed to clients in early November, FACTS Senior Consultant Vijay Mukherji wrote: "On the political side, Iran faces increasing sanctions and adverse foreign pressure. On the energy front, Iran's crude production outlook is marred by significant natural decline in its onshore and offshore fields, lack of necessary financial and technical resources, and dramatic management changes in Iran's oil sector."