BAKU, Azerbaijan, Nov. 29
By Elnur Baghishov – Trend:
Iran's Pars Oil and Gas Company have begun drilling operations on the SP-16 delineation well in the northern part of the Iran-Qatar joint South Pars gas field (called North Dome in Qatar), Director of Petroleum and Gas Engineering Department of Pars Oil and Gas Company (POGC) Ali Akbar Majed said, Trend reports citing the company’s website.
According to him, the purpose of drilling this well is to determine the extent to which the South Pars gas field will be developed and to assess the potential reserve of the unblocked part of the north of the field.
Majed added that in total, 4 wells will be drilled in the north part of the South Pars gas field for this purpose.
The director noted that taking into account the completion of development work in the current phases of the South Pars gas field, a document has been prepared to implement plans to maintain extraction from this field.
“According to this document, the focus is on accurately defining the boundaries of the field, assessing the reserve potential outside the developed blocks in the field,” he said.
Majed stressed that these operations are carried out in cooperation with the Iranian Offshore Engineering and Construction Company.
The South Pars gas field (called North Dome in Qatar) is a joint gas field of Iran and Qatar. The proven reserves of the South Pars Gas Field are estimated at 51 trillion cubic meters of gas, of which 36 trillion are extractable. Iran's share in the field is 14 trillion cubic meters of gas and 18 billion barrels of gas condensate. Iran has so far spent $90 billion on projects of the South Pars gas field.
The phases of the South Pars gas field are located in an area of 3.7 km. Iran has extracted more than 1.8 trillion cubic meters of gas and 2.2 billion barrels of gas condensate worth $335 billion by the end of last Iranian year (March 20, 2021).
Reportedly, Iran is to spend $25-$30 billion to maintain extraction from the South Pars gas field. Iran extracts daily 700 million cubic meters of gas from this field.
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