The South Zagros Oil and Gas Production Company, a subsidiary of Iranian Central Oil Fields Company, has produced a total of 1.37 trillion cubic meters of natural gas since 1999, according to data released by ICOFC.
Estimates show the company's reserves hold a total of 3.7 trillion cubic meters of in-place gas, some 2.7 trillion cubic meters of which are deemed recoverable, Shana reported.
According to Ramin Hatami, ICOFC's managing director, the company's output during winter reached 193 million cubic meters per day on average.
SZOGPC also holds 425 million barrels of crude oil reserves, of which 12 million have so far been extracted. The official noted that the company's crude output is expected to stand at 6,100 barrels per day in the next fiscal year that starts on March 21.
SZOGPC produced over 62 billion cubic meters of gas, 20 million barrels of gas condensates and 2.1 million barrels of crude oil in the previous fiscal.
The company operates nine natural gas fields and two oilfields in the central and southern provinces of Fars, Bushehr and Hormozgan.
It also oversees 37 exploration projects and aims to expand operations across the Kohgilouyeh-Boyerahmad and Chaharmahal-Bakhtiari provinces.
Hatami added that gas production for the next year is phased in eight- and four-month periods.
"Gas production is slated to stand at 170 and 191 mcm/d during the phases respectively," he said.
Compared with the current production, the figure indicates a decline in the company's natural gas output, which could be due to several reasons, including loss of reservoir pressure.
Maintenance, Development Plans
During a meeting held on Tuesday on challenges and solutions to increase ICOFC's oil and gas fields' productivity, SZOGPC's chief executive officer, Gholamhossein Montazeri, said efforts are underway to revamp current reservoirs and develop the fields.
Elaborating on plans to maintain the Zagros fields' output, he added that installation of compressor stations is high on the agenda to address gas pressure reduction. "The development of gas fields, such as Sefid Zakhour, Halgan, Dey, Madar and Khar-Tang, Pazan and Sepid Paghoun, all located in the western and central regions, is high on the priority list," Montazeri added.
Previous reports said plans are in place to attract investment via engineering procurement, construction and financing contracts to increase the recovery rate in other gas fields, including Tabnak, Shanoul and Homa.
The Zagros Mountains, which stretch from Turkey in the northwest across the western borders and all the way to the western and central regions south of Iran, have excellent structural traps for the accumulation of hydrocarbons.
More than 30% of Iran's gas are produced in five gas-rich operational regions of SZOGPC. Tehran seeks to raise gas production capacity to 1 billion cubic meters per day by March 2018 on the back of bigger supplies from South Pars, the world's largest gas field shared with Qatar in the Persian Gulf.
