Iran completes roll up operation of first jacket in SP's 14th phase

Oil&Gas Materials 31 May 2011 20:59 (UTC +04:00)

Azerbaijan , Baku, May 31 /Trend/

The first roll up operation of jacket at 14th phase completed in South Pars Oil field, SHANA reported.

The construction of four jackets and four decks for phase 14 in South Pars oil field was assigned to Mobin Sazeh Company.

"The company started construction of 2 jackets at the beginning of this solar year (March 20, 2012) , building each jacket took 57 days to finish and we witness roll up of the first jacket in 14th phase," he said.

The projects of phase 14 operated on time, it is predicted that other jackets of 14th phase will be installed in august.

Iran is implementing 14 mega projects in its giant South Pars field that are scheduled to be completed in 35 months.

According to officials Iran's South Pars natural gas field, one of the largest in the world, was expected to produce up to $130 billion in revenues per year.

The South Pars oil and gas field covers an area of 3700 square kilometers and is located 3,000m below the seabed.

The Iranian South Pars field is the northern extension of Qatar's giant North Field. The Iranian side accounts for 10% of the world's and 60% of Iran's total gas reserves. Iran's portion of the field contains an estimated 436 trillion cubic feet.

The field is planned to be developed in around 30 phases, each of which will require an initial investment of around $1bn.