The development project of Nargesi Oilfield in southern Iran has been assigned to Dana Energy Company to produce 6,000 barrels of oil per day in about 40 months.
After the project’s completion, the field is expected to generate more than $500 million in revenues within two years, the Oil Ministry’s news agency Shana reported.
Almost 80% of the tools and equipment required for the project have been manufactured by domestic producers.
Nargesi Oilfield is located 70 km northeast of Bushehr Port at the southeastern tip of Dezful in Khuzestan Province and adjacent to Roudak, Solabdar and Golkhari fields.
Dana Energy Company is a private oil and gas company headquartered in Tehran. Established in 2000, it undertakes exploration and production activities and offers oilfield services in mid-downstream sectors. It operates both in Iran and in the MENA region.
Belal Gas Field
The development of Belal Gas Field in the Persian Gulf has been assigned to Petropars Company and it is expected to cost $500 million.
In the first phase, an exploratory-appraisal well will be drilled at the field. The well, expected to be 4,300 meters deep, is one of the eight wells planned to be drilled in the field.
An exploratory well is a deep test hole drilled by oil and gas companies to locate the proven reserves of recoverable gas and oil, both onshore and offshore.
An appraisal well is drilled on the back of a commercial well to delineate the physical extent of the accumulation penetrated by the latter and to estimate the accumulation reserves and the probable production rate.
According to the program, the drilling operations are expected to be completed within 44 months.
The project will produce 14 million cubic meters per day of sour gas, which will be transferred to the offshore platform of Phase 12 of South Pars Gas Field and after processing will be piped to the phase’s onshore refinery via an undersea pipeline.
Petropars will drill the eight wells in the offshore field, launch wellhead jackets and build/install a topside as well as a 20-km seabed pipeline.
Belal, a joint gas field, straddles the maritime boundary between Iran and Qatar in the Persian Gulf. It is located east of the giant South Pars, 90 km southwest of Lavan Island. The field is estimated to hold 170 billion cubic meters of gas in reserve and its proven gas condensate in place is more than 100 million barrels.
Petropars was founded in 1998 to contribute to the development of vast energy resources. It is one of the country's leading contractors of upstream oil and gas projects.
Iran has been making efforts to develop its oil and gas industry in spite of the US sanctions.
The US exited Iran’s 2015 nuclear deal in 2018 and reimposed sanctions.
Although the sanctions delayed and troubled several projects as foreign companies halted collaboration, the projects were never canceled and Iranian companies continued them by relying on the expertise of domestic engineers and knowhow.
