$1.5 b Allocated to Iran's SP oil and gas project

Oil&Gas Materials 31 May 2011 16:49 (UTC +04:00)

Since the start of current Iranian calendar year on March 21, 16.5 billion dollars have been allocated to the South Pars gas field projects of which 1.5 billion dollars have been paid to contractors, Pars Oil and Gas Company (POGC) top executive, Mousa Souri said.

Talking on the sidelines of a ceremony at Iman Khomeini Shrine, south of Tehran, Mr. Souri said that currently a daily 18 million cubic meters of gas is being extracted from seven gas wells at the south pars gas field phases 9 and 10 noting the number of wells would be increased by another seven wells in next two months.

Souri went on to say that all the wells of the SP' gas field phases 9 and 10 would come fully on stream up to the end of the year 2011.

On western backed sanctions against Iran's oil industry, POGC's managing director said that western countries were applying all their means not to allow Iran's oil industry to be able to extract gas from the shared gas field.

On falling gas pressure at the field, the official noted that the issue was not unusual due to gas withdrawal by both Iran and Qatar.

In connection to the latest situation of SP's phases 15 and 16 and their start-up, the official noted that construction of the two phases had progressed by 70 percent.

According to POGC's managing director development process of the two phases have gained momentum following allocation of eleven billion dollars.

'Under our schedule, drawing sweet gas from the phases 15, 16, 17 and 18 will be started early 2013', Souri noted.

The official reported of transferring of sour gas of the South Pars gas field phases 6, 7 and 8 to the gas refineries of the phases 15 and 16 up to the end of the year 2011 expressing hope onshore installations of the South Pars gas field phases 15 and 16 to be launched this year by taking gas from the 6.7 and 8 phases.

On attracting funds, Sorui noted that South Pars gas field projects succeeded to absorb eleven billion dollars last Iranian year that was unprecedented in the history of the Iran's oil industry.