Iran on target to deliver oil from South Pars

Offshore staff

TEHRAN, Iran – Production should start by next spring from one of the oil layers of the South Pars gas field offshore Iran, according to an official at Pars Oil and Gas Co.

Under a $180-million contract, Iranian contractor Global Petrotech Kish was tasked with drilling two appraisal wells within 470 days in order to measure the amount of crude oil in the field and draw up a master development plan for the oil layer, known as A2.

Development of A2 was awarded to Petro Iran Co. in March 2005. To date about $500 million has been invested in the project. Output from A2 should eventually reach 25,000 b/d.

The layer has about 7.5 Bbbl of oil in place, of which 10% is considered recoverable.

9/20/2012

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