TEHRAN: Iran’s President Hassan Rouhani inaugurated five new phases of the South Pars gas field on Sunday, the result of some $20 billion in investment, local media reported.
The ribbon-cutting of phases 17-21 pave the way for Iran to surpass the production levels of neighboring Qatar, which shares half the offshore gas field, Iranian officials said.
“Our production has reached 575 million cubic meters per day,” said Rouhani.
Iran’s total gas production is 885 million cubic meters per day. “At the height of sanctions, with the help of Iranian engineers and workers, we succeeded in developing 11 phases of South Pars,” added Oil Minister Bijan Namadar Zanganeh.
South Pars is the largest known gas reservoir in the world. Iran has the second-largest gas reserves in the world after Russia, and the fourth-largest oil reserves.
In November, French firm Total signed a preliminary accord worth an estimated $4.8 billion to help develop phase 11 of South Pars, but has since said it will wait for signals from Washington before finalizing the deal.
Although many sanctions, including on Iran’s energy industry, were lifted under a nuclear deal with world powers in 2015, the US has maintained a raft of its own sanctions that continue to hamper investment and cause concern among foreign businesses.
Since the nuclear deal came into effect in January 2016, Iran has increased oil production from 2.6 million barrels per day (bpd) to 3.9 million bpd, while more than doubling its oil exports.
In January, Tehran approved 29 international companies to bid for oil and gas projects. However, it is still finalizing a new contract for foreign investors — a process that has proved controversial in a country with strong memories of past exploitation by global oil firms.
Extension of output cuts
Most oil producers support an extension of output cuts by the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries, and Iran would also back such a move, Iranian Oil Minister Bijan Zanganeh was quoted as saying.
“(Zanganeh) stressed that most countries want OPEC’s decision to be extended," the Iranian Students’ News Agency (ISNA) reported.
“Iran also supports such a decision and if others comply, so would Iran,” Zanganeh told reporters late on Saturday, according to ISNA.
The market has been oversupplied since mid-2014, prompting members of OPEC and some non-OPEC producers to agree to cut output in the first six months of 2017. OPEC meets on May 25 to consider extending the cuts beyond June.
Iran boosts gas production from underwater field
Iran boosts gas production from underwater field
Building bridges: Saudi Arabia leads Gulf-Asia tech leap
ALKHOBAR: Saudi Arabia is forging new academic connections with Asia as the Kingdom’s Vision 2030 accelerates reforms in education and innovation.
Two academics — Prof. Eman AbuKhousa, a data science professor at the University of Europe for Applied Sciences in Dubai, and Prof. Hui Kai-Lung, acting dean of the HKUST Business School in Hong Kong —emphasize that the Kingdom’s transformation is reshaping the development of artificial intelligence and fintech talent across the region.
For AbuKhousa, responsible AI is not just about technology; it is fundamentally about intention. “It is about aligning technology with human values: ensuring fairness, transparency, and accountability in every system we build.”
She highlighted that the Middle East’s heritage of trust and ethics gives the region a competitive advantage. “Institutions should embed ethics and cultural context into AI education and create multidisciplinary labs where engineers collaborate with social scientists and ethicists,” she said.
At the University of Europe for Applied Sciences in Dubai, AbuKhousa trains students to question data, identify bias, and integrate integrity into innovation.
“Educators must model responsible use by explaining how data is sourced and decisions are made,” she explained. “Ultimately, responsible AI is less about algorithms than about intention; teaching future innovators to ask not only ‘Can we?’ but ‘Should we?’”
She further noted:“Saudi Arabia’s Vision 2030 has turned digital education into a national movement placing technology and innovation at the heart of human development.”
AbuKhousa emphasized the transformative opportunities for women in the Kingdom: “Today, Saudi female students are designing models, leading AI startups, and redefining what digital leadership looks like.”
Prof. Hui views this transformation through the lens of fintech. “Fintech is deeply embedded in Vision 2030, serving as a key enabler of its three pillars: a vibrant society, a thriving economy, and an ambitious nation,” he said.
Hui stressed that Saudi Arabia’s investment capacity and modern regulatory framework “create a conducive environment for innovation.” Having collaborated with Aramco, The Financial Academy, and Prince Mohammed Bin Salman College of Business and Entrepreneurship, he highlighted the strategic potential of the Kingdom’s young population. “The Kingdom has one of the youngest populations in the world, with a median age below 30,” he said.
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“This demographic presents a tremendous opportunity for higher education to shape future leaders, and our collaborations in Saudi Arabia are highly targeted to support this goal.”
AbuKhousa argued that universities must lead innovation rather than follow it. “Universities must evolve from teaching institutions into innovation ecosystems,” she said. “The real bridge between research and industry lies in applied collaboration: joint labs, shared data projects, and co-supervised capstones where students solve live industry challenges.”
“At UE Dubai, we’ve introduced an Honorary Senate of Business Leaders to strengthen that bridge, bringing decision-makers directly into the learning process,” she added.
DID YOU KNOW?
Vision 2030 has made digital education central to Saudi Arabia’s development strategy.
Women in Saudi Arabia are now designing AI models and leading startups.
Universities are transforming into innovation ecosystems bridging research and industry.
Cross-border collaborations with Hong Kong and Dubai are accelerating fintech and AI growth.
Hui noted that cross-border cooperation between Hong Kong and Saudi Arabia is growing rapidly. “Saudi Arabia’s scale, strategic location, and leadership in the Arab world offer Hong Kong an ideal partner,” he said. “Hong Kong’s academic and regulatory experience can help the Kingdom fast-track its digital transformation.”
He highlighted lessons from Hong Kong’s fintech journey. “Hong Kong’s fintech journey offers critical lessons for Saudi Arabia, particularly in creating a balanced ecosystem for innovation,” he said. “Education and regulation are both important. We need education at all levels and beyond schools to expose people to these ideas; having diverse and rich experiences also helps, as the education needs to be supplemented by real-life implementation and usage experience. That is what Hong Kong can offer.”
AbuKhousa emphasized that women’s participation in technology must extend beyond access to influence. “Empowering women in technology begins with reimagining representation: from inclusion to influence,” she said. “We need more women not only learning tech, but leading teams, designing systems, and shaping AI policy. Institutions must normalize women’s presence in decision-making spaces and provide visible mentorship networks to counter imposter syndrome.”
Both experts agreed that innovation must remain human-centered and accountable. “As AI becomes integral to financial systems, governments must strike a careful balance between innovation, data ethics, and compliance,” Hui said. “Establishing clear regulatory frameworks and transparency standards is crucial.”
AbuKhousa concurred, emphasizing the role of education in AI adoption: “Educators must position generative AI as a thinking partner, not a shortcut. The goal is to teach students how to use AI critically, not merely that they can.”
Hui predicts that “AI, blockchain, and cybersecurity will be transformative forces in the region’s financial sector.” AbuKhousa sees a similar momentum in education: “The Gulf is entering a defining phase where AI becomes the backbone of education and workforce development.”
The experts concluded that the Kingdom’s digital transformation, anchored in Vision 2030, is connecting classrooms, industries, and continents through human-centered innovation.
