Iran details development capex for South Pars in Persian Gulf

Measures to speed development of the South Pars gas-condensate field could reach $30 billion over the next 10 months, according to a report by Iranian news service Shana.

Offshorestaff

TEHRAN, Iran – Measures to speed development of the South Pars gas-condensate field could reach $30 billion over the next 10 months, according to a report by Iranian news service Shana.

Ahmad Qalebani, managing director of National Iranian Oil Co. (NIOC) expects all current development phases to proceed on schedule. By next March, the start of phases 12, 15, and 16 will help increase the country’s gas production capacity by 100 MMcm/d (3.5 bcf/d), he added.

Additionally, production of oil fromSouth Pars’ oil layer should start shortly. To date seven oil wells have been drilled, Qalebani said, with the aim of producing 35,000 b/d. Some of the wells incorporate “smart” technology, a first for Iran.

Exploration is under way in another layer of the gas field, where more new wells will be drilled, Qalebani claimed.

5/13/2013

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