TEHRAN – Pars Oil and Gas Co. (POGC) expects to start drilling the oil layer of the South Pars field in the Persian Gulf during the second half of May.
Managing director Mousa Souri told news service Shana that one rig would be dispatched this month to work on the portion of the layer overlapping Qatari waters. Another rig is to start operations in the wholly Iranian section next month.
POGC is looking to buy or lease a floating storage vessel for the development, and aims to produce first oil some time in 2013. Mousa estimated the cost of the program at $800 million.
The company is targeting initial production of 35,000 b/d.