By Mehdi Sepahvand and Dalga Khatinoglu
Total is among the companies that have willingness to get involved in development of the Phase 11 of South Pars gas field, Ali Kardor, managing director of National Iranian Oil Company, told Trend on the sidelines of an energy conference in Tehran on Oct. 17.
He said that some other companies from China to Russia have willingness to be involved in this project, but the final winner of the project is expected to be known the next month.
Iran has been developing 23 phases of South Pars, 13 of them were completed, five are expected to be completed by March 27, 2017 and others would become operational in coming three years. Among the phases, only phase 11 hasn’t been started yet. The mentioned phase is expected to produce 56 million cubic meters per day (mcm/d) of gas.
Iran is preparing to issue tenders on upstream oil and gas projects in coming days.
Kardor said that $134 billion investment is needed for upstream projects by 2021.
Currently, France’s Total is studying the total reserves of South Pars gas field in Iranian territory, based on a confidentially agreement.
Iran is producing 450 mcm/d of gas from South Pars and the figure is expected to reach 530 mcm/d by March.
The final gas production capacity is projected to exceed 700 mcm/d in coming years, while the gas condensate output would reach 1 million barrels per day.
Currently, Iran produces about 520,000 barrels per day of gas condensate from South Pars.
Please Donate Today
Did you enjoy this article? Then please consider donating today to ensure that Eurasia Review can continue to be able to provide similar content.