BAKU, Azerbaijan, August 2.
The 11th phase of the Iran-Qatar joint South Pars gas field (called North Dome in Qatar) is ready for operation, Iranian Oil Minister Javad Owji told reporters after a meeting of the Cabinet of Iran in Tehran on August 2, 2023, Trend reports.
The minister stressed that all operations of the 11th phase were carried out under the current Iranian government (which has been in power since August 2021). The 11th phase will be put into operation three years earlier than planned.
Owji added that the mentioned phase is scheduled to be put into operation in the coming weeks with the participation of Iranian President Ebrahim Raisi. In this phase, 12–15 million cubic meters of rich gas will be produced daily.
The South Pars gas field (called North Dome in Qatar) is a joint gas field between 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.
Over the last Iranian year (March 21, 2021–March 20, 2022), Iran produced a total of 231 billion cubic meters of rich gas from the South Pars gas field.
In 2017, the French company Total, the Chinese company CNPCI, and the Iranian company Petropars were given the task of developing the 11th phase of the South Pars gas field. However, due to US sanctions on Iran, foreign companies have declined to do operations at the 11th phase of the South Pars gas field. The Petropars Operation and Management Company (POMC) was thus given complete control of the operations during this phase.
There are currently 74 oil and 22 gas fields in Iran. So, 37 oil fields are operating in the territory of the National Iranian South Oil Company (NISOC), 14 fields are operated by the Iranian Central Oil Fields Company (ICOFC), 5 fields are operated by Arvandan Oil and Gas Company (AOGC), and 18 oil fields are operated by the Iranian Offshore Oil Company (IOOC).
In addition, 5 gas fields are operating in the territory of the NISOC, 13 fields are operated by the ICOFC, 1 field is operated by Pars Oil and Gas Company (POGC), and 3 gas fields are operated by the IOOC.
Iran’s total hydrocarbon reserves are estimated at 1.2 trillion barrels. With available technology and equipment, Iran can extract 340 billion barrels. Thus, 30 percent of the country's hydrocarbon reserves are recoverable, while 70 percent remain underground.
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