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Iran’s Gulf neighbours devour joint fields

Iran Materials 28 January 2013 12:58
The total extraction volume of Iran’s neighbours in the Persian Gulf from the joint oil and gas fields is currently nine times more than Tehran’s share
Iran’s Gulf neighbours devour joint fields

Dalga Khatinoglu, Trend Iran News Service chief/‎‏

The total extraction volume of Iran's neighbours in the Persian Gulf from the joint oil and gas fields is currently nine times more than Tehran's share, the Majlis Research Centre reports.

Iran shares 28 oil and gas fields with neighbouring countries, including a disputed joint oilfield with Iraq.

In the Persian Gulf region, Iran has 15 joint oil and gas fields with the United Arab Emirates, Saudi Arabia, Qatar, Oman and Kuwait.

United Arab Emirates extracts 136,000 bpd of oil from seven joint fields, while Iran only extracts 56,000 barrels daily.

Saudi Arabia also extracts 450,000 barrels of oil from the four joint fields, while Iran's produces a daily 42,000 barrels.

Iran's main problem is the giant South Pars gas field. This is the world's biggest gas field shared between Iran and Qatar with above 28 trillion cubic meters of gas reserves.

Doha's gas pump currently is two times more than Iran and is extracting crude oil from this field's oil layer 13 times more than Tehran.

Iran is currently producing around 242 mcm per day of gas and 35,000 barrels of crude oil from South Pars. This is while Qatar extracts some 450,000 barrels of oil from the gas field's oil layer. Qatar's condensate produce from the South Pars' gas layer is also more than Iran.

According to Iranian Petroleum Minister Rostam Qasemi, Iran has extracted 500 billion cubic meters of gas from South Pars over the course of 15 years, while Qatar announced last year that its total gas extraction from the field has reached one trillion cubic meters.

Thanks to extracting gas from the joint field, Qatar is currently world's largest LNG exporter. Its annual LNG exports stands at 77 million tons.

Due to US-generated sanctions against Iran's oil and gas sector, giant foreign companies have left the country's energy projects. This has caused severe problems for Iran with regards to developing joint oil and gas fields.

Some of the phases of the South Pars gas field are way behind schedule. For example, the development plan for five phases of Iran's giant South Pars gas field (phases 15-18 and phase 12) has entered its 66th month. These phases were supposed to come on stream by the end of the current Iranian year (March 20), but none of is complete yet.

Majlis Research Centre's report claims that some countries have been tapping joint oil and gas fields without signing the required memorandums of understanding. The report also accuses some of the states of delaying negotiations in order to continue extraction of oil and gas. Tehran believes that these governments should be fined by international courts to get compensation from neighbours.

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