72896
Iran began to extract crude oil from South Pars in March.
Iran began to extract crude oil from South Pars in March.

South Pars Crude Oil Loading on the Rise

South Pars Crude Oil Loading on the Rise

Iran has drawn over 3.1 million barrels of crude oil from the oil layer of the South Pars Gas Field in the Persian Gulf and more barrels are planned for loading and export in the next few weeks, the operator of the oil layer said.
Referring to the loading of the last crude oil consignment in the offshore field, Fardin As’adi also told ISNA on Friday that 500,000 barrels are scheduled for loading on October 15. Daily oil production from South Pars stands at 25,000 barrels and the rate is unlikely to change by June next year, the official said.
“Crude oil production from South Pars is in a trial stage, but output can be increased to as much as 150,000 barrels per day in future,” he said.
As’adi said last month that regardless of the state-of-the-art recovery techniques and only through water injection, the reservoir's recovery factor can increase by 10%.
The National Iranian Oil Company plans to employ enhanced oil recovery methods to boost the extraction rate in oilfields by 35%.
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, but it is hard to put an accurate estimate on the volume unless more exploratory wells are drilled.
He added that Qatar, which shares the oil and gas field with Iran, extracts more than 300,000 bpd from the oil layer.
Iran began to extract crude oil from South Pars in March using FPSO Cyrus, a floating production storage and offloading vessel. The FPSO was reportedly built in Singapore and cost $300 million.
Iran is pushing for higher crude output from the joint 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 in the past 25 years.

 

Short URL : https://goo.gl/SnuRwY
  1. https://goo.gl/RD4jcv
  • https://goo.gl/tY2VU6
  • https://goo.gl/DWZG98
  • https://goo.gl/X8V2bd
  • https://goo.gl/SjSp8C

You can also read ...

China Starts World's Biggest Floating Solar Power Project
A unit of China Three Gorges Corp. is building a floating...
Iran has estimated investment requirements in its petroleum projects at $200 billion.
Iran's state oil company is lining up a spate of subcontracts...
UN-Habitat Signs MoU on Tehran Water Management
The United Nations Habitat Office in Tehran signed a...
Investment in the energy sector should be focused on the completion of value chain.
The parliament is ready to back new investments that would...
Indian Ban on Petcoke Imports Will Hurt US
India’s government is in favor of banning the import of...
Iraq Boosts Kirkuk Refinery Output
Iraq’s Oil Ministry has added a new processing unit to the...
Brent, WTI Prices Stable
Oil markets were stable on Monday as ongoing output cuts led...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus