Iran produces 3m b/pd of crude oil from South Pars

EghtesadOnline: Cumulative crude oil production from the South Pars Oil Layer (SPOL) has reached 3 million barrels per day since March 21, 2017, the project operator said on Sunday.

News ID: ۷۷۹۲۶۹

18 September 2017

Development of SPOL needs use of modern technologies, including the Enhanced Oil Recovery (EOR) methods, Fardin Asadi, operator of SPOL's development project said.

According to IRNA, he called for immediate action and planning development of all phases of the SPOL and said that Iran has dispatched several consignment of crude oil to international destinations in five phases over past five months.

According to the official website of Petroleum Ministry (Shana), Iran has so far exported over 2 million barrels of crude oil recovered from the oil layer of the supergiant South Pars Gas Field to the East Asian markets.

Iran shares South Pars with Qatar in Persian Gulf waters.

The layer is estimated to contain over 6 billion barrels of crude oil with an API of 21 and recovery rate of 10% which can be increased to 35% by adopting EOR and IOR techniques for oil recovery.

Iran is developing its share of the layer under newly-devised model of oil contract, called Iran Petroleum Contract (IPC).