Dec 14, 2020, 1:51 PM
Journalist ID: 1843
News Code: 84146772
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Initial gas production at South Pars phase 11 to begin in 15 months

Tehran, Dec 14, IRNA – An official with the National Iranian Oil Company says the initial gas production at the 11th phase of the South Pars Gas Field will begin by the end of next Iranian calendar year when the drilling project and installation of platforms are completed.

Deputy CEO of the National Iranian Oil Company Reza Dehghan said at the inaugural ceremony of the drilling operation in the South Pars' phase 11 that the Ministry of Oil and the National Iranian Oil Company have taken vital steps to develop joint fields.

 The inauguration of the phases of the South Pars field in the current Iranian government has increased the daily production of natural gas from 285 million cubic meters per day in 2013 to more than 700 million cubic meters per day in the current Iranian calendar year (started March 20, 2020), Dehghan noted.

The National Iranian Oil Company tried to develop the 11th phase of the South Pars Gas Field in the form of a consortium consisting of domestic and foreign firms in order to receive technology and finance for the project, he added.

According to the official, as a result of the oppressive US-imposed sanctions against Iran and the withdrawal of foreign companies from the project, Iran has assigned the Petropars Company to use domestic capacities in order to develop the gas phase.

He also went on to say that the first phase of the project is going to produce 2 billion cubic feet of gas and condensate per day to be used in refineries in South Pars Field.

Within the next Iranian calendar year, the early operation of this phase will start with an initial capacity of 14 million cubic meters, he said, noting that the completion of 12 wells of the project will increase the total production capacity to 28 million cubic meters per day.

According to Dehghan, the financial resources for the project are expected to be about 500 million dollars, which is being provided by domestic sources and Corporate bonds.

A contract for the development of Phase 11 of the South Pars Gas Field was signed in 1996 between the National Iranian Oil Company and a consortium including France's Total, China's CNPC and Iran's Petropars.

1424

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