Iran’s giant offshore South Pars oil and gas field is will kick off its 14th phase of development three months ahead of schedule, with drilling to begin this week, according to oil ministry sources.Â
The operating manager of the phase 14, Esmaeil Galledari, said that the drilling of the first well of the phase is scheduled to start this week, which is three months ahead of schedule. The announcement was made on the official website of the Iranian Oil Ministry Shana.
Iran’s Press TV website added that the official said a total of 44 appraisal wells will be drilled in this phase of the South Pars development.
The South Pars gas field is located in the Persian Gulf in the border zone between Iran and Qatar. The field’s reserves are estimated at 14 trillion cubic meters of gas and 18 billion barrels of gas condensates. The South Pars field covers an area of 3,700 square kilometers.
The process of developing gas production projects in the South Pars Special Economic Energy Zone is divided into 28 phases, which will officially come on stream in 35 months.
Iran has 137.6 billion barrels of proven oil reserves and 29.61 trillion cubic meters of proven gas reserves, ranking third in the world in oil reserves and second in gas reserves.
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