Reserves of gas condensate of Iran’s Pars Oil & Gas Company grow

Business Materials 27 January 2020 14:13 (UTC +04:00)
Reserves of gas condensate of Iran’s Pars Oil & Gas Company grow

BAKU, Azerbaijan, Jan. 27

By Elnur Baghishov - Trend:

Reserves of gas condensate storage tanks of Iran’s Pars Oil and Gas Company increased to 3.5 million barrels with the commissioning of tanks B and C of the company, said Reza Forouzesh, a contractor for a project to build facilities for reserve storage of gas condensate extracted from the South Pars field, Trend reports referring to the Pars Oil and Gas Company’s website.

The capacity of each of the storage tanks put into operation is 500,000 barrels, Forouzesh said.

Forouzesh added that seven tanks envisaged for storing gas condensate processed at the refineries near the South Pars field are operating.

“Over the past two months, the total capacity of tanks has increased by 1.5 million barrels with the commissioning of three tanks,” the contractor said.

The total capacity of storage tanks will reach 4 million barrels with commissioning of the final storage tank, the contractor added.

The South Pars gas field (the North Dome in Qatar) is a joint gas field between Iran and Qatar. The field is reported to have reserves of 51 trillion cubic meters of gas and it is possible to extract 36 trillion cubic meters of this volume.

Presently, 630 million cubic meters of gas may be extracted from Iran's South Pars gas field daily.

After new platforms are commissioned at five phases (13, 14, 22, 23 and 24), gas production volume will increase up to 680 million cubic meters a day.