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B.Zanganeh: Iran outperforming Qatar in South Pars gas extraction

B.Zanganeh: Iran outperforming Qatar in South Pars gas extraction

Teheran, May 27 – Neftegaz.RU. Oil Minister Bijan Zanganeh says Iran’s daily extraction of natural gas from the South Pars gas field, in the Persian Gulf, is more than Qatar output from the joint field. Zanganeh added, Iran is planning to extract 800 million cu m per day of gas from 27 conventional phases of the South Pars gas field.

Noting that the country’s gas extraction from the South Pars currently stands at 700mcm per day, he said the output is envisaged to reach 570 mcm per day by the end of the current Iranian fiscal year (March 2021).

He noted that part of that output will be used in the petrochemical industries, a section will be he exported in the form of liquefied gas, and the rest will be consumed inside the country. The minister said that would mean a triple increase in production from the field compared to 2013.

Zanganeh’s comments came hours after an Iranian contractor responsible for developing Phase 11 of South Pars began installation work for a supersize jacket that is expected to hold the 11B drilling platform.

Zanganeh said the installation of the jacket is a major part of building out Phase 11, the last and most complicated of all 28 phases of South Pars in terms of development. He added that once the rig is fully installed, the contractor would be able to drill 12 offshore wells on the site of the project.

South Pars, whose development has been divided into 28 phases, is located in the Persian Gulf straddling the maritime border between Iran and Qatar.

It covers an area of 9,700 sq.km, of which 3,700 sq. km belongs to Iran. It is estimated that the Iranian section of the field contains 14 trillion cu m of gas and 18 billion barrels of condensates in place.

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