Iran Joint Field Gas Extraction to Equal Qatars

Source: www.gulfoilandgas.com 10/14/2016, Location: Asia

The minister said that since phases 12, 15 and 16 and part of phases 17 and 18 are operational and the remaining part of phases 17, 18 and 19 (equal to two standard phases), as well as phases 20 and 21 will be operational, Irans gas extraction out of South Pars gas field will equal that of Qatar.

He hoped that by end of this year, the contract for development of phase 11 will be signed and collection of oil industry works in the upstream sector of South Pars will end by the next Iranian calendar year of 1396 (2017-18).

"The remaining works in South Pars are partly due to problems caused by the offshore platforms and Sadra Company, which are hoped will be solved and work in the offshore section will be done with speed."

Elsewhere in his remarks, Zanganeh said the second priority of the upstream sector of the oil industry is development of oil fields west of Karoon. "For the time being, more than 200,000 barrels are daily extracted in the fields and Enhanced Oil Recovery (EOR) in the area is of high significance."

He said, "As delay in extraction out of the joint fields would result in EOR of the fields by the other party, any delay in commissioning of the EOR projects will result in waste of national wealth. If extraction out of the field is not on time, the parts of the reserves will be left useless or their exploitation will be possible at high cost."

Unfortunately, both before and after the Islamic Revolution, the EOR was not appreciated as it deserved, said Zanganeh, adding that the new model of oil contracts will address major portion of the countrys EOR needs and it is hoped the goal will be met.

The Minister noted that Irans oil production capacity stood at 3,800,000 bpd on the average in the first half of this year and it will exceed 4,000,000 bpd by end of this year (March 20) and by the next four years, it will reach more than 4,600,000 bpd.


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