Production to start in 10 new gas wells shared with Qatar

The countdown has started for the production from 10 new gas wells in the shared gas field with Qatar.

One billion cubic feet daily of gas will be produced from the wells.

At present the final stages of preparation, installment of equipment and excavation of 10 new gas wells in South Pars phases 9 and 10 is being implemented.

According to the National Iranian Oil Company (NIOC) timetable four new gas wells in phase 9, each with a capacity to produce 100 million cfd, will come on stream by the end of the week and another three of the aforementioned wells will begin production in less than a month.

The other three wells will come on stream by mid March, declared the Director of the National Iranian Drilling Company Heidar Bahmani.

Pars Oil and Gas Company's managing director, Ali Vakili said here in August: "For developing South Pars we reached the conclusion that we should not wait for foreign companies because at the moment the capability to develop through domestic companies exists," Reuters reported.

Meanwhile, since March, four separate wells have been opened in phases 9 and 10 of South Pars field with a capacity to produce 400 million cfd of natural gas.

Iran has the second biggest gas reserves in the world after Russia.  The South Pars field is a gas field located in the Persian Gulf.

The offshore South Pars field contains about half of the estimated 28 trillion cubic meters of the country's gas reserves.

South Pars is on the Iranian side of the world's largest known gas reservoir not associated with oil production.

It is shared by Iran and Qatar. Qatar holds the southern section of the field, where it is known as the North Field. Qatar has developed its side of the field to become the world's largest exporter of liquefied natural gas (LNG).

According to the International Energy Agency, the field holds an estimated 50.97 trillion cubic meters (1800 trillion cubic feet) of in-situ gas and some 50 billion barrels of condensates.

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