BAKU, Azerbaijan, Jan. 26
By Elnur Baghishov - Trend:
Iran's Petropars company continues to carry out the work in the first block of the 11th phase of the South Pars gas field (which is called North Dome in Qatar), which is a joint gas field of Iran and Qatar, Iranian Oil Minister Bijan Zangeneh said.
“The project of developing the first block of the 11th phase of the South Pars gas field was fully entrusted to Petropars company after the withdrawal of French Total company and China National Petroleum Corporation from the project,” Zangeneh added, Trend reports referring to the Iranian parliament’s website.
“Petropars company has launched the operations and will intend to sign the contracts for obtaining the necessary materials to drill wells,” the minister said.
"So far, in terms of technology and design, Petropars company cannot develop the second block of the 11th phase of the South Pars gas field," Zangeneh said.
After the implementation of the Joint Comprehensive Plan of Action (JCPOA) in 2016, the Iranian Oil Ministry announced new contracts for the development of oil and gas fields.
However, after the US withdrew from the JCPOA in May 2018 and imposed the sanctions in November 2018, most of the companies left Iran.
As a result, Iran entrusted Petropars company to develop the 11th phase of the South Pars gas field.
The proven reserves of the South Pars Gas Field have reached 51 trillion cubic meters of gas (36 trillion extractable).
Presently, 630 million cubic meters of gas may be extracted from Iran's South Pars gas field daily.
After new platforms are commissioned at five phases (13, 14, 22, 23 and 24), gas production volume will increase up to 680 million cubic meters a day.