TEHRAN, Iran – National Iranian Oil Co. (NIOC) has allocated $182 million to further development of the South Pars gas field in the Persian Gulf.
Pars Oil and Gas Co. Managing Director Mousa Souri told an Iranian news service that the investment had been directed at the field’s K1 layer. Currently, all South Pars gas comes from the K2 and K4 layers.
This new development could boost total production from South Pars by 15-20%, he added, compared with last year’s daily average of 284 MMcm/d (10 bcf/d). The improvement will come in South Pars phases 2-10.
By end-March 2013, the field’s oil layer should also come onstream. Development was awarded in 2005 to PetroIran Co.; a jacket is in place and construction of a related platform is nearing completion.
A rig should start a new phase of development drilling later this month. To date seven wells have been drilled in the A2 area.
POGC plans to produce 35,000 b/d from the oil layer under the first development phase, and will store production on a rented FPSO.