Iran’s President Hassan Rouhani officially launched four new development phases at the giant South Pars offshore gas field, which will add 110 million cubic meters to the daily output of the field. The expansion cost US$11 billion, Reuters reports . Last week, Petroleum Minister Bijan Zanganeh said South Pars will produce from 27 phases of development within a year. He added production from the field—the world’s largest—would reach more than 750 million cubic meters later this year. Iran’s total to date stands at 841 million cubic meters daily, which should rise to 880 million cubic meters daily by next March and 950 million cubic meters daily in the year after that. South Pars was supposed to be developed by French Total and Chinese CNPC in partnership with the local national oil company. However, when U.S. sanctions snapped back last November, Total was forced to retreat and quit the project. […]