Iran (IMNA) - The CEO of Pars Oil & Gas Company, Touraj Dehghani, reported the new production figure on a Monday, noting that output had recently increased by 5 mcm per day after several wells near the maritime border with Qatar came online. He attributed this success to "months of effort by the company’s expert staff."
Dehghani also stated that Pars Oil had added six platforms to its offshore facilities in the past year, increasing the firm's total number of operational offshore rigs to 10. Overall, output from South Pars has grown by 25 mcm per day over the last 12 months and is projected to increase by another 5 mcm by March with the completion of six additional wells.
This increased production has helped Iran maintain its rank as the world’s third-largest gas producer, trailing only the United States and Russia. The South Pars field, which is shared with Qatar, accounts for 70% of Iran’s natural gas supply and 40% of the feedstock required for the country's gasoline production. The field encompasses 40 offshore drilling rigs, hundreds of wells, and thousands of kilometers of underwater pipelines across 28 development phases.
To safeguard the field's future, Iran awarded approximately $17 billion worth of contracts to domestic companies in early March for a major pressure-boosting project intended to extend the field's lifespan by 20 years, addressing expert warnings about potential output drops due to declining pressure. Additionally, a project is underway to drill 35 infill wells to decrease well spacing and accelerate oil and gas recovery. Production has already begun from the fourth infill well, which has a daily capacity of 1.8 million mcm.
Your Comment