BAKU, Azerbaijan, Dec. 14
By Elnur Baghishov – Trend:
Daily 500 million cubic feet (about 14.2 million cubic meters) of gas is planned to be extracted from the 11th phase of the Iran-Qatar joint South Pars gas field (called North Dome in Qatar) until the winter of next Iranian year, Iranian oil minister Bijan Zanganeh said, Trend reports citing National Iranian Oil Company’s website.
Zanganeh noted that one of the main goals of Iran on development of 11th phase is to increase gas pressure.
The minister added that a number of researches have been conducted to increase gas pressure after foreign companies left Iran.
"A contract will be signed in Iran on the production of turbines and compressors and to increase the gas pressure," he said.
Zanganeh stressed that Iran's Oil Turbo Compressor Company (OTCC) will be able to produce these turbines and compressors for the first time.
According to him, about $50 billion is needed to maintain extraction and increase gas pressure at South Pars gas field, and the money can be provided by Iran itself.
The deputy minister said that Iran's gas extraction exceeds 1 billion cubic meters per day.
"It was decided to intensify exploration operations in the area around the South Pars gas field. I hope that the development of the Fardzad and Bilal fields will begin soon with the cooperation of Iran's Petropars Operation and Management Company (POMC) and Pars Oil and Gas Companies (POGC)," he said.
France's Total and China's CNPCI companies have refused to operate in the 11th phase of the South Pars gas field as a result of US sanctions against Iran. According to this, the operations in this phase were fully entrusted to the Petropars Operation and Management Company (POMC).
The South Pars gas field (called North Dome in Qatar) is a joint gas field of Iran and Qatar. The proven 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 $80 billion on projects of the South Pars gas field.
Iran extracted 570 million cubic meters of gas per day from this field in the last Iranian year (from March 21, 2019, to March 20, 2020).