Iran to produce oil in the South Pars field before the end of the year
Almaty. August 31. Silkroadnews – Iran will start producing oil in the South Pars field in the Persian Gulf before the end of the year.
«The oil platform installation is being completed currently in the UAE. As soon as the installation works are over, it will be towed into the Iranian territorial waters and mounted on the first site of the South Pars oil layer. NIOC expects to produce a 35 thousand barrels of daily output», Deputy Oil Minister and Managing Director for National Iranian Oil Company (NIOC) Ali Kardor said.
As for the second and subsequent oil-bearing areas of the field, their development is planned to be transfered to foreign companies, as Iran does not possess the technologies allowing oil production there, A. Kardor added.
According to him, to develop this site there will be an international tender announced using the new rules, which have been submitted to the Iranian parliament for approval.
Located in the Persian Gulf between Iran and Qatar, the world's largest oil and gas field is divided into two parts – the Iranian and Qatari. The Iranian part reserves are estimated at 13.8 trillion cubic meters of gas and 27 billion barrels of oil. Iran carries out the gradual development of the field having divided its area into 28 sites (stages).
According to the Iranian Oil Ministry, this June Iran's daily output in the South Pars made 354 million cubic meters of gas, but the oil production has not yet started there, while Qatar has been producing oil using this filed since the end of the last century.
