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Iran exports over 4 mln barrels of oil from South Pars oil layer

Business Materials 19 November 2017 14:53 (UTC +04:00)

Baku, Azerbaijan, Nov. 19

By Fatih Karimov– Trend:

Iran has recently exported another crude oil shipment from the oil layer of South Pars, bringing the overall volume of the exports to 4.3 million barrels since the country started tapping the layer in March 21.

The Islamic Republic has recently started production of 25,000 barrels per day ‎of crude oil from offshore South Pars gas field’s oil layer (SPOL) and started talks with foreign investors including Maersk for second phase of the layer development project, in order to increase the output level to 54,000 b/d.

The first phase of the project was developed by Iranians, meanwhile Tehran needs to offer the second phase of the layer development project to foreigners, because domestic companies lack the ‎necessary technology for development of the next phases.‎

Development of SPOL needs use of modern technologies, including the Enhanced Oil Recovery (EOR) methods.

Based on long-term plan, Iran targets to extract 200,000 barrels of crude oil from the South Pars oil layer in next 20 years. At least 300 wells will be drilled in this regard.

Fardin Asadi, operator of SPOL's development project said, that oil export from the layer is carried out each 20-25 days, when the extracted oil reach the ceiling of 550,000 barrels.

Asadi told ISNA Nov. 19 that Iran will continue to keep the daily oil extraction from the field at 25,000 barrels till January 2018.

Afterwards, a new extraction ceiling will be determined based on the production conditions of the wells as well as the output of the reservoir models, he said.

Drilling injection wells, in order to inject 30,000 barrels of water per day into the reservoir is on the agenda, in order to maintain its pressure, Asadi added.

He further said that Iran has so far exported eight shipments of crude oil from the layer.

The SPOL is estimated to contain over 6 billion barrels of crude oil with an API of 21 and recovery rate of 10 percent, which can be increased to 35 percent by adopting EOR and IOR techniques for oil recovery.

South Pars gas field is divided into 24 development phases and contains 40 trillion cubic meters of natural gas.

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.

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