Iran’s South Pars Gas Field holds five billion barrels of reserves
Iran’s South Pars Gas Field is estimated to hold close to five billion barrels of gas reserves. The field’s first well was drilled last year with two more wells to come on stream in the near future, reported IRNA. Extraction operations are to commence next week.
According to Managing Director of the Pars Oil and Gas Company, Assadollah Salehiforuz, the company has released international tenders for the excavation of the field. The company chosen for the project will have the option of selecting a local partner for the creation of a joint venture.
Iran has the world's second largest natural gas reserves, after Russia, with some 26.3 trillion cubic meters. The South Pars gas is intended for the Iranian domestic network, while the condensate will be sent to an offshore loading buoy for export.
The gas produced will not be treated offshore, but transported with the condensate to the Assaluyeh treatment plant in southwestern Iran through two 32-inch 105-kilometer pipelines. The first production train has already been custom-built and the other three will come on stream before the end of the third quarter of 2002. — (menareport.com)
© 2002 Mena Report (www.menareport.com)