South Zagros Oil and Gas Production Company, a subsidiary of the National Iranian Oil Company, has produced over 58 billion cubic meters of natural gas during the current fiscal that ends on March 20, SZOGPC's chief executive said.
Addressing a gathering of the company's senior executives, Gholamhossein Montazeri added that the company has exceeded its daily production target by 2.5 million cubic meters, Shana reported.
"South Zagros has also produced 18.5 million barrels of gas condensate and over 2 million barrels of crude oil during the year," he added.
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.
According to the report, the company has produced close to 1.4 trillion cubic meters of natural gas since its launch in 1999.
Estimates show the its 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.
The company also holds 425 million barrels of crude oil reserves, of which 12 million have so far been extracted. Its crude output is expected to stand at 6,100 barrels per day in the next fiscal year that starts on March 21.
The company operates 11 oil and gas fields, including Aghar, Dalan, Nar, Kangan, Tabnak, Sorkhoun, Homa, Varavi, Shanoul, Sarvestan and Sa'adatadab fields in Fars, Bushehr and Hormozgan provinces. All the fields are located in five regions, namely Nar and Kangan, Aghar and Dalan, Parsian, South Sorkhoun and Gashou, as well as Sarvestan and Saadatabad.
It is also developing Khesht Oilfield in Fars Province, which is slated to become operational early next year. The development of Dey and Sepid Zakhour gas fields in Fars Province is also underway.
South Pars Output
The natural gas production from the giant South Pars Gas Field in the Persian Gulf has reached 570 million cubic meters per day on average in the month to Feb. 19.
The number shows a 30% hike since the launch of phases 17-21 and the South Pars oil layer on Oct. 22, 2017. The country's output from the giant field stood at 435 mcm/d during the current fiscal year (started March 21, 2017) till the implementation of the new phases.
The southern field currently injects 456 mcm/d of light gas into the national grid and supplies Persian Gulf oilfields with 45 mcm/d of sour gas. The extraction rate is expected to observe a huge jump, as several other phases, namely 11, 13, 14, 22, 23 and 24 are slated to go on stream next year.
South Pars is the world's largest gas field shared by Iran and Qatar in the Persian Gulf. The mega gas project is being developed in 24 phases.
