Iran Starts Crude Oil Production From South Pars
March 20, 2017 - Iran has started oil production from the offshore South Pars crude oil layers after installing its first floating production, storage and offloading vessel, the FPSO Cyrus, announced National Iranian Oil Company's deputy for engineering and development on Sunday.
“Extraction from seven subsea wells at the layer has started... The aim is to 35,000 barrels of oil per day in the first phase, the output of the project will reach full capacity within a week,” Shana quoted Gholam-Reza Manouchehri as saying.
The aim is to 35,000 barrels of oil per day in the first phase, he added.
The official also said that the first crude oil consignment from the field will be ready for shipment in 30 to 45 days.
The oil layer of South Pars field, located in the center of the Persian Gulf and 130 km off the Iranian coast, and adjacent to Qatar's territorial waters, holds an estimated 14 billion barrels of oil in place.