0908 GMT April 10, 2021
Hamidreza Masoudi said the drilling operations of the phase begun on December 14, 2020, and in order to achieve early production from this phase, drilling operations will continue in two stages, IRNA reported.
“In the first stage, a descriptive well and three production wells will be drilled and completed, and then after the installation of a platform, eight more wells will be drilled and completed.”
He stressed that Petropars tries to make maximum use of the capacities and capabilities of domestic companies and workforce in developing this phase.
"This project has so far offered direct employment for about 500 people while creating indirect job opportunities for about 2,000 people,” Masoudi said.
Last December, Oil Minister Bijan Namdar Zanganehordered the official beginning of the drilling operations for the first well of Phase 11 in the Persian Gulf waters.
An offshore drilling rig, belonging to Mapna Drilling Company, was settled at the mentioned phase’s SPD-11B platform on November 6, 2020.
In the early production stage, the output of this phase will reach 500 million cubic feet (equivalent to 14 million cubic meters) per day.
In November 2016, Iran signed a $4.8 billion agreement with a consortium including France’s Total, China National Petroleum Corporation (CNPC), and Petropars, a subsidiary of the National Iranian Oil Company (NIOC), on development of Phase 11.
However Total and CNPC pulled out of the project in 2019 due to the US sanctions.
Currently, Petropars is developing the phase 11 project after its partners left the contract.
The South Pars Phase 11 project will have a production capacity of two billion cubic feet per day or 370, 000 barrels of oil equivalent per day. The produced gas will be fed into Iran's gas network.
South Pars is the world’s largest gas field, covering an area of 3,700 square kilometers of Iran’s territorial waters.
The giant field is estimated to contain a significant amount of natural gas, accounting for about eight percent of the world’s reserves, and approximately 18 billion barrels of condensate. The field is divided into 24 standard phases.