Iran exports 2 m/b of South Pars oil to East Asia

EghtesadOnline: Iran exported two million barrels of crude oil recovered from South Pars Oilfield to the East Asian countries via four shipments, Petroleum Ministry said on Saturday.

News ID: ۷۴۳۳۶۷

20 August 2017

South Pars is not only the largest gas field in the world, but also it has oil layers that have not been recovered since the start of 11th government in 2013, according to IRNA.

Qatar was recovering oil from the South Pars Oil Field for several years, but Iran had missed the opportunity because of lack of technical equipment sanctioned by the US and its allies.

According to the Petroleum Ministry official news website, Deputy Managing Director of the National Iranian Oil Company (NIOC) for Engineering and Development Affairs Gholam-Reza Manouchehri announced in March 2017 that the oil recovery from South Pars has kicked off.

Oil recovery from the oil layer of the offshore gas field was made possible after NIOC dispatched a floating production, storage and offloading (FPSO) unit over the layer.

South Pars, a supergiant gas field Iran shares with Qatar in Persian Gulf waters, is estimated to contain over 14 billion barrels of oil in its oil layer.