Eni proposes to develop phase 11 of Iran’s South Pars
Baku, Azerbaijan, Jan. 26
By Dalga Khatinoglu - Trend:
Italian multinational oil and gas company Eni has proposed Iran to develop the phase 11 of the giant South Pars gas field.
"Eni proposed a $4-billion agreement to develop the only remaining phase of the South Pars," Fars news agency reported Jan. 26.
Reportedly, an early half-capacity production at the phase 11 will start in 36 months once an agreement is signed between Eni and Iran, and the phase will become fully operational four to five months after that period ends.
Eni has experience in developing phases 4 and 5 of South Pars, as well as the Darkhovin oil field.
In 2010, the company announced that it would cease operations on the Darkhovin field's phase 2 due to international sanctions imposed on Iran.
Fars also reported that Eni has willingness to be involved in the projects for development of the North Pars and Darkhovin field's phase 3.
In November 2015, Iran introduced 50 oil and gas fields to foreigners, excluding the phase 11 of the South Pars.
The phase 11 is to produce 56 million cubic meters of natural gas and 80,000 barrels of gas condensate on a daily basis.
Currently, Iran produces 420 million cubic meters per day (mcm/d) of natural gas from South Pars, while the figure is projected to reach 700 mcm/d after the launch of all the 24 phases of the South Pars in late 2018.