PEDCO orders FPSO for South Pars oil development offshore Iran

An FPSO could begin extracting oil late next year from the oil layer of the South Pars gas field in the Persian Gulf, according to news service Shana.

Offshore staff

TEHRAN, Iran – An FPSO could begin extracting oil late next year from the oil layer of the South Pars gas field in the Persian Gulf, according to news service Shana.

National Iranian Oil Co. (NIOC) managing director Roknodding Javadi said Petroleum Iran Co. (PEDCO) has signed a contract for delivery of the vessel within 22 months.

NIOC has targeted production of 35,000 b/d from the layer at a cost of $1 billion.

Javadi said NIOC has no plans currently to start oil production from itsdeepwater Sardar Jangal field in the Iranian sector of the Caspian Sea. However, the company is considering drilling in other blocks, he added.

03/09/2015

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