BAKU, Azerbaijan, May 16. Iran's Pars Oil and Gas Company (POGC) will sign a research contract with Iran's Nargan Company on increasing the pressure in the Iran-Qatar joint South Pars gas field (called North Dome in Qatar), in the near future, CEO of the POGC, Mohammad Hossein Motajalli said, Trend reports citing the company’s website.
Motajalli noted that the contract includes 17 work packages for increasing production at the South Pars gas field. After the completion of the research operations, programs will be developed to increase the pressure in the field and consequently increase the production.
The CEO added that due to more than 70 percent of the gas supplied to Iran in various areas, including industrial plants, residental buildings, commercial facilities, power plants, and petrochemical plants, is provided by the South Pars gas field, the mentioned contract is of great importance.
“According to the conducted studies, the reduction of production from the South Pars gas field will be seriously felt after 4 years (as of March 21, 2027) at the current rate. Thus, production from the field will decrease by approximately 40 million cubic meters per day. Meanwhile, in 2036, it is predicted that the gas production from the mentioned field will be halved. This will create serious inequality in gas production and gas supply in the country,” he said.
The South Pars gas field (called North Dome in Qatar) is a joint gas field between 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's share in the field is 14 trillion cubic meters of gas and 18 billion barrels of gas condensate.
Reportedly, Iran produces an average of 700 million cubic meters of gas per day from the South Pars gas field.
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