Iran Expects South Pars Project to be Fully Operational by March 2018

Iran's President Hassan Rouhani indicated Monday that the development of the South Pars oil and gas fields -- located on the country's border with Qatar in the Persian Gulf -- is expected to be come online by early the end of first quarter of 2018, Pars Oil and Gas Company (POGC) said in a press release.

Rouhani revealed the timeline for the South Pars oil and gas project, which will be developed in 24 phases, in a ceremony held to inaugurate two new phases -- 15 and 16 -- of the South Pars Energy Zone in Assalouyeh.

The Iranian President further added that South Pars Phases 17 and 18 are scheduled to become operational by March 2017.

"Putting into operation of South Pars phases 15 and 16 proved that the arbitrary sanctions can not weaken Iranian nation's desire for progress," POGC quoted Rouhani as saying.

South Pars Phases 15 and 16 development are targeted to produce 1.99 MMcf (56.5 Mcm) of natural gas, 75,000 barrels of condensates, 400 tons of sulfur, 1.05 million tons of liquid petroleum gas (LPG) and 1 million tons of ethane yearly, Shana -- the information network supported by Iran's Ministry of Petroleum -- reported Monday.

POGC reported that Iran's Minister of Petroleum Bijan Zangeneh had disclosed separately on Monday that development of all phases of the South Pars Gas Field, except for a section of phase 14, would be completed entirely within the next 2 years, should adequate funds be channeled into the projects.

“Development of phases 17 and 18 is also near completion. The phases have even started gas production. They are expected to become operational in March or April 2016,” Zangeneh commented.

Gas refineries of the various South Pars phases have helped increased Iran’s processing capacity by 6.36 million cubic feet (MMcf), or 180 million cubic meters (Mcm).

POGC noted that Zaganeh has stated that over the last 30 months, around 5.29 MMcf (150 Mcm) of gas were extracted from the South Pars gas field’s six phases, which has helped to reduce consumption of liquid fuels by domestic power plants.

South Pars, which are being developed by a consortium of Iranian companies, is currently supplying around 55 percent of the country's daily gas consumption of 15.18 MMcf (430 Mcm), figures cited the Shana report showed.

Chee Yew has covered the upstream and downstream sectors of the oil and gas industry in Asia for more than 15 years. Email Chee Yew at cheeyew.cheang@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Chee Yew Cheang
APAC Editor | Rigzone
 -  Thailand's EPPO Says Country May Face ... (Jun 23)
 -  Essar Oil Emerges as India's Largest U... (Jun 22)
 -  Fox Petroleum Invites SHI to Bid for I... (Jun 20)
 -  Indonesia's Upstream Investment Appeal... (Jun 20)
 -  BLOG: New Job Creation in Australia's ... (Jun 19)


Most Popular Articles

From the Career Center
Jobs that may interest you
Drilling Superintendent, International Rotation
Expertise: Drilling Manager|Drilling Superintendent|Petroleum Engineering
Location: Houston
 
Asset Integrity Engineer
Expertise: Petroleum Engineering
Location: Texas, United States, TX
 
Drilling & Completions Engineer Job
Expertise: Drilling Engineering|Petroleum Engineering|Workover or Completion
Location: Houston, TX
 
search for more jobs

Light Crude Oil : $50.11/BBL 1.99%
Natural Gas : $2.69/MMBtu 0.74%
Brent Crude Oil : $50.91/BBL 2.06%
Updated in last 24 hours