Activities of Iranian Pars Oil and Gas Company announced

Oil&Gas Materials 25 August 2020 16:25 (UTC +04:00)
Activities of Iranian Pars Oil and Gas Company announced

BAKU, Azerbaijan, August 25

By Elnur Baghishov – Trend:

Around 600 million cubic meters of gas per day was expected to be extracted from the Iran-Qatar joint South Pars gas field (called North Dome in Qatar) in the last Iranian year (from March 21, 2019, to March 20, 2020), Managing Director of Iran's Pars Oil & Gas Company (POGC) Iran Mohammad Meshkinfam said, Trend reports citing official POGC website.

Meshkinfam noted that the field produced an average of 570 million barrels of gas per day during the last year.

He added that POGC is planning to extract 630 million cubic meters of gas per day from the South Pars gas field in the current calendar year. These figures show a projected increase of 11 percent compared to last year.

Meshkinfam stressed that 6 wells were drilled in the 13th phase of the South Pars gas field, 18 wells in the 14th phase, and 13 wells in the 22nd, 23rd, and 24th phases in the last year. In total, 37 wells were drilled and upgraded.

The director said that 6 platforms were planned to be installed and put into operation in these phases in the last Iranian year, and but only 4 platforms started their operations in the last Iranian year due to the spread of coronavirus in Iran.

According to him, due to the delay related to the global pandemic, the 13C platform was commissioned last week and the 13A platform is expected to be commissioned soon.

"At present, 13th phase platforms produce 43 million cubic meters of gas per day," he said.

Meshkinfam added that Iran's gas production from the 13th phase will increase to 56 million cubic meters per day with the commissioning of the 13A platform.

The director said that 8 warehouses with a capacity of 80,000 cubic meters each began their operations last year to store gas condensate extracted from the South Pars gas field. Additionally, the fuel of the Persian Gulf Star Oil Company will also be provided via these storage facilities.

The South Pars gas field is a joint gas field of Iran and Qatar. The current reserves of the South Pars Gas Field are estimated at 51 trillion cubic meters of gas, of which 36 trillion are extractable. Iran has so far spent $33 billion on projects related to the South Pars gas field. Furthermore, roughly 75 percent of Iran's gas is supplied by this field.