TEHRAN – Development of phases 11 to 24 of Iran’s South Pars gas field will require investment of $40 billion, according to the country’s Petroenergy Information Network, Shana.
National Iranian Oil Co.’s corporate planning manager, Abdol-Mohammad Delparish, issued the estimate, adding that around $2.5 billion should be sufficient to cover each individual phase.
Over the past fortnight, domestic and foreign companies have contracted for phases 11 to 18, with Iranian companies awarded phases 20 and 21. NIOC expects to assign phase 19 in the near future, he added.
Delparish said work was in progress on 12 phases at present. Among these is Phase 12, where the fourth development well is due to spud shortly.
Project director Soleiman Fahimi of contractor Pars Oil and Gas Co., said the company plans to put in 40 development wells over time. The first of the platform jackets has been installed, and Isoico Co. is completing the second and third jackets.
He hoped the first stage of Phase 12 would be operational by 2011. Phase 12 is designed to produce 78 MMcm (2.75 tcf) of gas for injection into the Iran Gas Trunkline-6, along with 120,000 b/d of gas condensates and quantities of sulfur.
Iran looking to award further South Pars contracts
Development of phases 11 to 24 of Iran’s South Pars gas field will require investment of $40 billion, according to the country’s Petroenergy Information Network, Shana.