Several unfinished petroleum projects worth $8 billion are scheduled to be completed by the end of the current Iranian year (March 20, 2023), the 0il minister said.
“The projects are aimed at addressing issues such as enhancing oil and gas production, boosting gas refining capacity, developing petrochemical complexes and collecting associated petroleum gases,” Javad Owji was also quoted as saying by the Oil Ministry’s news service.
Among the projects, he pointed to the final stages of development of South Pars Gas Field and said, “Phase 11 of the massive field will finally become operational before the year is out. The project will add 14 million cubic meters of gas to the country’s daily natural gas production capacity.”
The drilling of the last four wells in the phase is in their final stages and after the project’s subsea pipe-laying operations are completed, gas extraction will begin.
Phase 11 is the only one among the 24 phases of the joint field in the Persian Gulf, which has not been developed yet. Iran shares the field with Qatar.
The Phase 11 development project included the construction and installation of the jackets and topsides of the phase, drilling of 12 wells and establishment of 115-km-long 32-inch pipelines to transfer mono-ethylene glycol and liquefied natural gas to onshore plants for processing.
About 12,000 meters of drilling operations to dig four production wells have been carried out and it is estimated to reach 15,000 meters upon completion.
When it becomes fully operational, the phase will produce 56.6 million cubic meters of gas per day, plus 75,000 barrels of gas condensate, which will be transferred to refineries in Asalouyeh and Kangan in Bushehr Province.