Iran to explore South Pars oil layer

Iran Materials 22 January 2012 13:11 (UTC +04:00)

Azerbaijan, Baku, Jan. 22 /Trend M. Moezzi/

Iran will begin drilling the joint South Pars gas field's oil layers this spring, the head of the South Pars Gas Company said, Shana news reported.

A contract has already been signed for the drilling of delineation wells. A drilling platform will be moved to the area to launce the operation, in order to calculate the layers' production capacity, managing director of the South Pars Gas Company Mousa Souri said.

Iran and Qatar share the South Pars gas field. The Iranian portion which is divided into 29 phases, accounts for about 14 trillion cubic meters of gas, or about eight per cent of the total world reserves and more than 18 billion barrels of liquefied natural gas resources.

Qatar began work on South Pars ten years before Iran and has intensified developing the field while Iran suffers international sanctions and technical and financial obstacles.