Iran is reportedly planing to kick off oil extraction from the giant South Pars gas field offshore southern Iran starting March 2016.
According to the the official news agency IRNA , South Pars oil layers project manager, Ali-Reza Zeighami, said that the wells being drilled in the oil layer are to become operational in the second half of next calendar year. He also said that seven wells have been drilled so far.
“In the first phase, 20,000 to 35,000 barrels of oil are forecast to be recovered from the oil layer of South Pars,” Zeighami said in a report by Shana news agency.
The field was discovered in 1990 by National Iranian Oil Company. It covers an area of 9,700 square kilometers, of which 3,700 square kilometers are in Iran’s territorial waters in the Persian Gulf. The remaining 6,000 square kilometers, i.e. the North Dome, are in Qatar’s territorial waters. The field is jointly operated by Iran and Qatar.
The South Pars gas field holds 8 percent of total gas reserves of the world, and half of the country’s proven gas reserves.
Offshore Energy Today Staff