Azerbaijan, Baku, August 14 /Trend/
56.2 percent of South Pars Phase 12 development plan is completed while 92 percent of offshore pipeline installation is finished, SHANA quoted the Project manager of Phase 12 Rasoul Fallahnejad as saying.
"Total of 60 percent of drilling in Phase 12 are finished while the drilling of 11 wells in platform A is on its final stages and installation of 21 wellheads is completed," he said.
Phase 12 production capacity is equal to that of three phases of South Pars and expected to finish development process by the end of current solar year (started on March 20, 2011).
Development plan of Phase 12 aims to produce 75 million cubic meters of gas, 120,000 barrels of gas condensates and 750 tons of sulphur per day.
First oil production in one of the South Pars biggest phases will commence in next 15 months.
More than 38 percent of Phase 12 onshore refinery is completed while the construction of the phase's offshore pipeline will be completed in current solar year (started on March 20, 2011)
Iran South Pars oil and gas field is one of the largest in the world and forecasted to bring in up to $130 billion revenue per year.
The South Pars oil and gas field covers an area of 3,700 square kilometers. It is located 3,000 meters below the seabed.