• Samba 65 00% 56.65%
    Joga2002 635.254 50% 63.63%
    Bra52 69 23.145% -63.25%
    Joga2002 635.254 50% 63.63%
  • HangSang20 370 400% -20%
    NasDaq4 33 00% 36%
    S&P5002 60 50% 10%
    HangSang20 370 400% -20%
    Dow17 56.23 41.89% -2.635%

EghtesadOnline: The giant South Pars Gas Field in the Persian Gulf is slated to increase production capacity by 84 million cubic meters per day, which has currently stabilized at a rate of 550 mcm/d, by the end of the current fiscal year (March 2019), the managing director of Pars Oil and Gas Company said.

"Platform 14A, the construction of which had been assigned to Iran Shipbuilding and Offshore Industries Complex Company [in Bandar Abbas, southern Iran], has gone on stream," Mohammad Meshkinfam was also quoted as saying by Oil Ministry's news portal, Shana.

He added that Platform B14, which is also built by ISOICO, is expected to be installed by the fiscal yearend.

A consortium of Iranian companies is working on Phase 14, including the Iranian Offshore Engineering and Construction Company, Industrial Development and Renovation Organization and National Iranian Drilling Company, according to Financial Tribune.

"The construction operations of four other major platforms, namely 13B, 13D, 14C and 24A, has registered 90% progress and will be installed by late September," he added.

According to Meshkinfam, all the six platforms are expected to go on stream by the end of the current fiscal, raising the giant reservoir's production rate by 84 mcm/d.

He made the statements during a visit to the site of Iran Marine Industrial Company that is tasked with the construction of 10 South Pars platforms, of which one is already installed and a second is ready for loading.

The official noted that plans have been devised to award the contractor permits for loading, installation and commissioning of the platforms.

--- Gas Sweetening Trains

According to Meshkinfam, two gas sweetening trains of Phase 13 and a train belonging to phases 22 to 24 have come on stream.

"The second train of 22-24 phases will become operational by late August," he said.

"All the gas processing units of the said phases will join the grid by the yearend."

Upon completion, each phase is slated to produce 56 million cubic meters of gas and 75,000 barrels of gas condensates per year to meet domestic gas demand and supply feedstock to petrochemical units.

They are also expected to annually produce more than 1 million tons of gas condensates, 1 million tons of ethane for petrochemical units and 400 tons of sulfur.

South Pars is divided into 24 standard phases, most of which are fully operational.

Iran has invested over $72 billion since starting the development of South Pars field and its investments are expected to rise to $87 billion.

Iran has drawn over 1 trillion cubic meters of gas from South Pars since the first of its 24 planned phases came on stream in 2002.

The country is now producing around 880 million cubic meters of gas per day, which is envisaged to reach 1.3 billion cubic meters when all the phases are completed.

Iran has also started drawing crude oil from the joint field with Qatar, as plans call for raising crude production from the South Pars oil layer to as much as 150,000 barrels per day from around 20,000 bpd now. 

Qatar started crude oil production from the joint field over two decades ago.


South Pars Gas Output production capacity