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Drilling in SPís Phase 14 Starting in Next Few Days

Source: www.gulfoilandgas.com 8/4/2012, Location: Asia

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Drilling of developmental wells in South Pars gas field phase 14 will be started in next few days, deputy managing director of National Iranian Drilling Company (NIDC), Mohammad Reza Takaidi said.

Speaking to Shana, Takaidi referred to petroleum ministryís plans for speeding up implementation of remaining phases of South Pars gas field adding under the terms of contract with Pars Oil and Gas Company (POGC), NIDC is responsible for drilling of South Pars gas fieldís phase 14 wells.

Two drilling rigs are present in the phase and drilling operations is underway on schedule, the official said.

South pars gas field phase 14 aims at production of 56.5 million cubic meters of sour gas and 75 thousand barrels of gas condensate per day.

A consortium consist of eight Iranian companies is involved in implementation of the phase by using finance and bonds as financial instruments for funding the project.

As a subsidiary of NIOC, NIDC has already implemented drilling projects in South Pars gas fieldís phases 4,5,9 and 10 and now is in charge of drilling operations in South Pars gas field phases 14,17 and 18 under the terms of an engineering, procurment,and construciton (EPC) contract.

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