BAKU, Azerbaijan, November 20. Iran’s rich gas production from platform 11B of the South Pars gas field, the world’s largest natural gas field, will increase by 3 million cubic meters per day by the end of the current Iranian year (March 19, 2024), said Mohyeddin Jafari, deputy director of Iran’s Pars Oil and Gas Company (POGC), Trend reports.
Iran shares the ownership of the South Pars gas field with Qatar. Iran's share of the field stands at about 33 percent. The country has been developing the field since 2002, investing a total of about $90 billion in its development. Iran's share of the field is divided into 24 phases, each of which is developed separately. Iran is developing its share of the field through its domestic workforce, while Qatar's part is mostly handled by foreign companies.
Jafari noted that, in total, 12 wells are planned to be drilled on platform 11B. He added that currently, only 3 wells are active, producing 9 million cubic meters of gas per day. By the end of the Iranian year (March 19, 2024), 3 more wells will be operational, while the remaining 6 wells will be completed later.
“Platform 11B is part of the 11th phase of the South Pars project, which also includes Platform 11A. When both platforms are fully functional, they will produce 2 billion cubic feet (about 56.6 million cubic meters) of gas per day,” the official also pointed out.
Iran started producing rich gas from the 11th phase of the South Pars Gas field on August 11, 2023.
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 currently produces a total of 700 million cubic meters of gas per day from this field.
In 2017, the project to develop the 11th phase of the South Pars gas field was entrusted to France's Total, China's CNPCI, and Iran's Petropars. However, the foreign companies have refused to carry out operations at the 11th phase of the South Pars gas field as a result of US sanctions against Iran. As a result, the operations at this phase were fully entrusted to the Petropars Operation and Management Company (POMC).
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