Ali Akbar Majed, Head of POGC’s Engineering Department said:
- Planning is underway for drilling a new descriptive well at the northern part of the mentioned field to assess the possibility of new reserves
- Identifying and exploring undeveloped parts of the South Pars gas field is among POGC’s top programs for maintaining production from this joint field
- Due to the natural decrease in the pressure of the South Pars gas reservoir following its production over the last 20 years the production rate of this reservoir will inevitably decline even more in the coming years, so the company has put exploring the undeveloped parts of the field on the agenda by drilling new wells
The field is estimated to contain a significant amount of natural gas, accounting for about 8% of the world’s reserves, and approximately 18 billion barrels of condensate.
The development of the South Pars field started in 1998 and 29 different phases were defined for the project along with a separate oil block.
The field, however, is currently divided into 24 standard offshore phases, the output of which is processed by 14 gas refineries on land.
Despite the U.S pressure which led to the departure of almost all of the foreign companies from the project, and despite all the technical and engineering problems faced in the process, Iran has managed to finish the development of almost all the phases of the field and even the field’s oil layer is also producing nearly 50,000 barrels per day (bpd) of oil.