Baku, Azerbaijan, Jan. 27
By Dalga Khatinoglu - Trend:
Iran preparing to export gas condensate of the phases 17 and 18 of South Pars to South Korea in two weeks, said the executive manager of the mentioned phases Hassan Boyeri.
After commencing the nuclear deal on Jan.16, the situation is good to resume condensate exports, Boyeri told Shana news agency.
Boyeri added that about 22 wells have been drilled in phases 17 and 18, while the same number of wells would be drilled by March 21.
Phases 17 and 18 started early production last year, producing 23 million cubic meters of natural gas per day (mcm/d).
The final production capacity is 50 mcm/d and the phases are expected to become full operational by next winter.
Meanwhile, as far as the condensate production goes, the final production capacity of phases 17 and 18 is 80,000 barrels per day, but recently, Tasnim News Agency reported that one million barrels of gas condensate has been stored and is ready to be exported.
The US Energy Information Administration reported on Jan.19 that Iran has a considerable amount of oil stored offshore in tankers - between 30 and 50 million barrels - most of which is condensate, and crude oil stored at onshore facilities.
On January 16, the International Atomic Energy Agency verified Tehran's compliance with the Joint Comprehensive Plan of Action (JCPOA), opening the way for Iran's return to the global oil market. The same day, the United States and the European Union announced that they were lifting their sanctions against Iran.