News ID: 269364
Published: 1146 GMT May 22, 2020

Zanganeh: South Pars development will finish by March 2021

Zanganeh: South Pars development will finish by March 2021

Iran’s Oil Minister Bijan Namadar Zanganeh said the country will wrap up development work at South Pars gas field, the world’s largest natural gas reserve located in the Persian Gulf, by late March 2021 when the current Iranian year comes to an end.

 

“Development stages for the massive South Pars gas field will finish this year,” said Zanganeh on Thursday in an interview with the IRIB.

The comments came hours after an Iranian contractor responsible for developing the Phase 11 of South Pars began installation work for a supersize jacket that is expected to hold the 11B drilling platform, Press TV reported.

Zanganeh said installation of the jacket is a major part of building out Phase 11, the last and most complicated of all 28 phases of South Pars in terms of development. He added that once the rig is fully installed, the contractor would be able to drill 12 offshore wells on the site of the project.

Iran hopes full development of Phase 11 of South Pars could increase production by nearly 57 million cubic meters. That comes as the project had stalled for two years after French energy giant Total and China’s CNPC withdrew under increasing pressure from the United States.

Zanganeh said total production from all phases of South Pars would top 750 million cubic meters per day until the end of the current Iranian year in March.

The minister said that would mean a triple increase in production from the field compared to 2013, when the current administrative government took office.

South Pars is located in the Persian Gulf, straddling the maritime border between Iran and Qatar.

It covers an area of 9,700 square kilometers, of which 3,700 square kilometers belong to Iran.

It is estimated that the Iranian section of the field contains 14 trillion cubic meters of gas and 18 billion barrels of condensates in place.

 

   
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