Iran “Breaks” Statoil's Record in South Pars

Iran has commissioned a platform of the South Pars gas field phase 16 within 5 months and 10 days, breaking Statoil record which was 6 months and 15 days.

Kamran Mehrdadi, manager of project for building platforms of the South Pars phase 14, said four platforms of the phase 14 are being built by Iran Shipbuilding and Offshore Industries Complex in the southern city of Bandar Abbas, IRNA news agency reported on November 6.

He added that building of the platforms is complete by 70 percent. Due to a delay in the offshore section of the phases 17 and 18, two platforms of the phase 14 are planned to be transferred to the phases 17 and 18, he explained.

The four platforms of the phase 14 will be built at a cost of $600 million, he noted.

South Pars, divided into 29 development phases, contains 40 trillion cubic meters (tcm) of natural gas. It covers an area of 9,700 square kilometers, of which 3,700 square kilometers are in Iran’s territorial waters in the Persian Gulf. The remaining 6,000 square kilometers are situated in Qatar’s territorial waters. The gas field is estimated to contain about 8 percent of the world’s reserves, and approximately 18 billion barrels of condensate.

Currently Iran produces about 700 mcm/d of enriched gas and plans to increase the raw gas production to 1,100 mcm/d by late 2018.