South Pars Phases 15 and 16 grow

Oil&Gas Materials 12 July 2011 17:48 (UTC +04:00)

Azerbaijan, Baku, July 12 /Trend/

The development plan of the South Pars joint field's Phase 15 and 16 has been completed by 70 percent with a production capacity of 50 million cubic meters of gas, reported IRNA.

Sixty-one percent development plan in Phases 15 and 16 offshore platforms completed while 86 percent development of seabed pipelines and 73 percent of onshore refinery finished.

The onshore refinery will operate on second half of present solar year.

Development plan of Phases 15 and 16 in South Pars currently implemented by Iranian consortium, this is the second development project applied by domestic companies.

South Pars oil and gas field is one of the largest in the world and is expected to produce up to $130 billion in revenues per year.

The South Pars oil and gas field covers an area of 3,700 square kilometers and is located in 3,000 meters below the seabed.