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Offshore Facility Development to be Completed in 2018

Source: www.gulfoilandgas.com 5/7/2018, Location: Asia

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NIOC's managing director, Ali Kardor, in a press conference on sideline on 23rd international oil show announced that offshore facilities of south pars remaining phases including phases 13, 14, 22-24 as well as onshore refineries of phases 13, 22-24 will be completed by the end of Iranian calendar year (March 20, 2019), public relations reported.

Referring to gas condensate production, Kardor said "now we are producing 660,000 barrels of gas condensate per day,of which 240,000 barrels are devoted to SetareKhalije Fars (Persian Gulf star) refinery."

He pointed out that 300,000 barrels of gas condensate are daily exported from south pars. This amount is significantly reduced as Siraf refinery comes to operation, which is considered to be an important step in preventing from selling crude condensate.

In response to a question about Total Company's function in developing phase 11 anditspossible withdrawal from this agreement in the event of a US embargo, Kardor stated if each of the partners withdraws from phase 11 agreement, all its shares will be transferred to the next partner. Moreover the capital spent on will not be refunded until the plan comes to operation.

According oil minister's deputy, at this time daily production capacity from south pars gas field is 550 million cubic meters.

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