South Pars Last Offshore Platform Ready

EghtesadOnline: The last offshore platform of South Pars Gas Field phases 22-24 was successfully loaded at Iran Marine Industrial Company, also known as SADRA, in Bushehr Province Thursday.

News ID: ۷۴۸۶۷۹

12 October 2019

With a capacity to produce 14.2 million cubic meters of gas, the 2,500-ton rig will be moved to its final destination in the Persian Gulf, following which the installation operation will commence, the Oil Ministry news agency Shana reported.

Iranian engineers have manufactured platform 24B. When fully operational, phases 22-24 will produce 56 mcm of natural gas, 50 mcm of methane, 2,900 tons of liquefied petroleum gas, 2,750 tons of ethane, 75,000 barrels of gas condensates, and 400 tons of sulfur on a daily basis.

By the end of the year, 70 mcm gas per day will be added to South Pars daily production, Financial Tribune reported.

Iran will produce over 750 million cubic meters of natural gas from South Pars by March 2021.

South Pars is the world's largest gas field, shared between Iran and Qatar, covering an area of 3,700 square kilometers of Iran territorial waters in the Persian Gulf. Iran is developing the mega gas project in 24 phases.

More than $72 billion has been spent on the giant energy venture since work started and investments are forecast to rise to $87 billion.

Oil Minister Bijan Zanganeh said earlier in the week that Phase 14 project would come online by 2021.

He added that Phase 11 development plan would be launched before the current Iranian year is out next March.

The project is contracted by Petropars Company. A consortium of Total, CNPCI and Petropars were initially supposed to develop the field. However, Total and CNPCI pulled out of the project due to US provocations and Petropars is to develop it alone.