Iran’s President Hassan Rouhani will inaugurate oil projects worth about $20 billion on Sunday, said a senior Iranian official in a report.

A new phase of South Pars Gas Field in addition to oil layer of the giant field and some major petrochemical projects will become operational, Oil Minister Bijan Namdar Zanganeh, was quoted as saying in an Iran Daily News report, citing Irna.

Iran's average daily exports of oil and gas condensates crossed the 2.6-million-barrel mark in the year to March 20, he said, adding that his ministry will continue the ascending trend in the year to March 2018.

Phases 11, 13, 14, 23, 22 and 24 of South Pars will be inaugurated in the Iranian year to March 2019, added the minister.

Zanganeh further noted that Iran's gas production from joint South Pars field has reached the level exploited by Qatar noting that Iran will develop its production as Qatar start to boost extraction.

He said that Iran will increase its daily oil production to 4 million barrels by extracting more from joint fields.

According to IRNA, development of phases 17, 18, 19, 20 and 21 of South Pars Gas Field was implemented during President Rouhani's tenure and will be officially inaugurated on Sunday in a ceremony attended by Iranian and foreign officials, added the report.