Baku, Azerbaijan, May 14
By Khalid Kazimov - Trend:
South Pars Gas field's phases 20 and 21 will come on stream by March 2017, an Iranian official said. Behzad Mohammadi Managing Director of Oil industries' Engineering and Construction (OIEC) has said that the phases of 20 and 21 will increase the country's capacity for gas production by 50 million meter cubic per day (mcm/d), SHANA news agency reported. He added that drilling operation for creating 11 wells in phase 21 will be completed within the next month.
He further said that his company will complete drilling operations of 11 other wells in the phase 20 in the summer. South Pars, located in southern region, is divided into 24 development phases, and contains 40 trillion cubic meters of natural gas.
Each standard phase of the gas field will produce around 8 billion cubic meters of gas per year, valued at $2 billion.
It covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran's territorial waters in the Persian Gulf. The remaining 6,000 square kilometers are situated in Qatar's territorial waters.
The Islamic Republic is producing over 420 million cubic meters per day (mcm/d) of gas from South Pars, while the production level is projected to surpass 700 mcm/d by late 2018.