TEHRAN, Iran, Dec. 29
Trend:
The Managing Director of the National Iranian Oil Company (NIOC) Mohsen Khojastehmehr announced the production from the South Pars Gas Fields had hit 705 million cubic meters for the first time since the beginning of its operation.
Khojastehmehr as NIOC and the Academic Center for Education, Culture and Research, an Iranian public non-governmental higher education institution, signed four contracts worth $275 million for production of rapid processing equipment, industrial wastewater treatment, and renovation of drilling rigs.
He also explained about the MoU signed between the National Iranian Drilling Company and Academic Center for Education, Culture, and Research.
“The MoU on renovation and reconstruction of about 30 drilling rigs, worth 100 million Euros, will take five years,” he said.
Iranian technology companies will soon begin the country's first-ever project to produce helium at South Pars, the world's largest gas field, the senior official said.
Khojastemehr went on to say that the NIOC's plan is to accelerate the completion and full development of the South Azadegan field.
"Fortunately, good things have happened and by the end of the current Iranian year (ends on March 21, 2022)," he said adding that 17 wells that were not producing will become operational.
He expressed hope that the South Azadegan field will be fully developed and the production capacity will reach 320,000 barrels by 2023.
He noted that the development of the South Azadegan field is being carried out by a domestic company under a contract worth $5.6 billion.