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Total Sweet Gas Recovery from Phase 12 at 12bcm

Source: www.gulfoilandgas.com 9/6/2015, Location: Asia

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The total sweet gas recovered from Phase 12 development of the supergiant South Pars Gas field stands at 16 billion cubic meters, operator of the phases said.

Rasoul Fallah Nejad said more than 20 million barrels of gas condensate has been exported from the phases ever since it started production.

The phase was inaugurated in March 2015 but was not finalized until August.

Once fully developed, all South Pars phases are expected to add 2.4 bcf/d to the country's gas output, he added. 21 consignments of ultralight crude oil, or condensate, have been exported from the phase which amount to 20mb of the product, he said.

Fallah Nejad further added the phase has been handed over to its operators and its output is expected to increase once reform operations for enhancing recovery are over on the phase.

He said Platform 12A and 12B of the gas field are expected to be fully operational by mid-October.

Phase 12 development of South Pars, which is jointly operated by Iran and Qatar, is forecast to earn the Islamic Republic $17.5 million a day in revenue from gas condensate sales.

Phase 12, operated by Pars Oil and Gas Company (POGC), was awarded in July 2005 to Petropars Limited under a buyback deal.

South Pars, divided into 29 development phases, holds 40 tcm of natural gas, or 21% of world’s total gas reserves, and 50 billion barrels of condensate.

South Pars covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran’s territorial waters in the Persian Gulf. The remaining 6,000 square kilometers are situated in Qatar’s territorial waters.

The gas field is estimated to contain a significant amount of natural gas, accounting for about eight percent of the world’s reserves, and approximately 18 billion barrels of condensate.

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