Iran's oil production from South Pars still zero
Azerbaijan , Baku, Sept. 19/Trend / A. Qurbanova/
Iran's share of oil production from a joint field with Qatar is currently zero, while the Persian Gulf state pumps 450,000 barrels of oil per day from the South Pars oil layer, Mehr News Agency reported.
Iran's development progress of the South Pars oil layer is far behind schedule, while Qatar produces 450,000 barrels of oil per day from the Al Shaheenoil field. Production is predicted to increase to more than 500,000 bpd.
Iran plans to develop an oil layer in South Pars, aiming to produce 35,000 barrels of oil per day. In the meantime the National Iranian Oil Company says it has not halted the plan of development.
It was reported by Mehr News Agency that the National Iranian Oil Company removed a Norwegian company, instead signing a $260 million contract with a Chinese company to buy FPSO ships and develop an oil layer in the South Pars.
The South Pars oil and gas field is one of the largest in the world and expects to produce up to $130 billion in revenues per year.