South Pars Crude Output at 1.6m Barrels
South Pars Crude Output at 1.6m Barrels

South Pars Crude Output at 1.6m Barrels

South Pars Crude Output at 1.6m Barrels

Over 1.6 million barrels of crude oil has been extracted from the South Pars Gas Field’s oil layer in the Persian Gulf in the past three months, managing director of Petroiran Development Company said.
Roham Ghasemi told IRNA on Thursday that the third crude oil cargo from South Pars, amounting to 500,000 barrels, is ready for shipment to foreign markets.
"Daily production from the South Pars oil layer has reached 25,000 barrels on average,"
According to the official, early estimates show that production can reach 80,000 barrels and 150,000 barrels per day under the second and third development phases of the oil layer.
Ghasemi added that Danish conglomerate Maersk Group contributed to developing the first phase of the South Pars oil layer. The Copenhagen-based giant is in negotiations to undertake the next phase of the project.
Maersk currently produces oil from the Danish and UK sections of the North Sea, Qatar, Algeria and Kazakhstan. It supports global oil and gas production by providing modern drilling services to oil companies worldwide.
“Maersk’s operational capacity and knowhow to drill horizontal oil wells as deep as 10,000 meters is key to its success in developing the South Pars oil layer,” Ghasemi said.
Iran began to draw crude oil from South Pars in March using a floating production storage and offloading (FPSO) vessel. The FPSO was reportedly built in Singapore and cost $300 million.
The South Pars oil layer is located 130 kilometers off Iran's coast in the Persian Gulf with an estimated 7 billion barrels of oil in place.
Iran is pushing for higher crude output from the joint South Pars Gas Field with Qatar.
The small Arab neighbor, which started extracting oil from the field in 1991, has already drilled more than 300 wells with the help of international oil giants. It has reportedly extracted more than 1 billion barrels of crude from the joint field during the last 25 years.


Short URL : https://goo.gl/doDMpZ
  1. https://goo.gl/7YpgCp
  • https://goo.gl/M4TFgz
  • https://goo.gl/fR9cQ7
  • https://goo.gl/dhFCp9
  • https://goo.gl/y6xWKU

You can also read ...

Offshore drilling is expensive in a time of relatively low oil prices.
The US administration on Friday said it would offer the...
Egypt to Import LNG   From France
Egyptian Natural Gas Holding Company has arranged for the...
India to Increase Oil Imports From Iran
In April through January, the first 10 months of this fiscal...
UAE Committed to OPEC Output Reduction Deal
The UAE will remain committed to the global oil output...
The national gas network accounts for providing 70% of the country's energy.
In line with efforts to deliver natural gas to far-flung...
SP Phase 13 Ready to Deliver Sweet Gas
The first gas sweetening train in Phase 13 of South Pars Gas...
NPC Subsidiary, Foreign Firms in Scientific Coop.
The Petrochemical Research and Technology Company of Iran...

Add new comment

Read our comment policy before posting your viewpoints