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Iranian companies break drilling record at South Pars in absence of foreign rivals

Oil&Gas Materials 14 September 2014 14:37 (UTC +04:00)

Baku, Azerbaijan, Sept.14

By Fatih Karimov - Trend:

Iranian companies have registered new records in drilling wells at the South Pars gas field in the absence of foreign rivals.

Hadi Mirbaqeri, an official with the National Iranian Oil Company, said Iran's POSCO Company drilled 375 meters of well a day at phase 23 of the gas field, Iran's Mehr news agency reported on September 14.

"Despite the withdrawal of international oil and gas giants, such as Eni, Shell, and Gazprom, Iranian companies have managed to register new records of drilling at the gas field," he noted.

Mehran Makvandi, the deputy head of NIDC, said 113,357 meters of wells have been drilled at onshore fields and 13,389 meters of wells have been drilled at offshore fields, the Shana news agency reported on July 26.

"Currently, 74 drilling rigs are operating at both onshore and offshore oil and gas fields," he noted.

South Pars is part of a wider gas field that is shared with Qatar. The larger field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran's territorial waters (South Pars) in the Persian Gulf. The remaining 6,000 square kilometers, referred to as the North Dome, are in Qatar's territorial waters.

The Iranian gas field contains 14 trillion cubic meters of natural gas, about eight percent of the world's reserves, and more than 18 billion barrels of LNG resources.

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