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9.2 Major corporate news 9.2.1 Oil & gas corporate news
Iran adds 420mn cubic metres of gas extraction to South Pars recovery under Rouhani
Iran sees gas exports increase by 88% over seven years: NIGC
The CEO of Pars Oil and Gas Co. (POGC) has said that the company has increased gas extraction from the giant South Pars gas field in the Persian Gulf by “420mn cubic metres a day” under the current administration, SHANA reported.
The entirety of South Pars in the Persian Gulf, shared by Iran and Qatar, is thought to comprise the largest gas field in the world. However, the development of the field in Iranian waters has been hampered by US sanctions imposed on Tehran. In August 2018, sanctions put an end to French energy major Total’s planned participation in South Pars hydrocarbon extraction. According to the company director, current daily output stands at 700 mcm, with 37 out of 39 platforms installed and now fully operational across the offshore and onshore sites.
Speaking to IRIB national television, Mohammad Meshkinfam noted the 94% fulfilment of the company's instructed production plan, saying all phases of the gas field, excluding Phase 11, were operational.
Meshkinfam added that by the development of other fields and enhancing the productivity of South Pars, 75% of the country’s demand for energy would still be met from the field in the next 25 years.
Seven years ago, South Pars' production level for Iran stood at 270 mcm per day, but extraction has risen thanks to several fields and the Persian Gulf Star Refinery opening.
Gas exports from Iran have increased by 88% over the past seven years according to Hassan Montazer Torbati, CEO of the National Iranian Gas Company (NIGC), SHANA reported on September 10.
Iran has focused on boosting its exports of natural gas from several fields including the expansive South Pars gas field in the Persian Gulf.
“In recent years, the country has earned $10bn from the export of diesel fuel, liquefied petroleum gas [LPG] and heating oil, and this progress continues,” he was quoted as saying
According to Torbati, gas is exported to Turkey, Iraq, Azerbaijan and Armenia. He also said the development of South Pars and the start of gas exports to Iraq had led to an increase in gas exports by more than 88% compared to 2013.
The volume of gas supplied to Turkey in the contract, he specified, is 30mn cubic metres. "According to the contract, the export of gas to Iraq is 55 mcm,"
58 IRAN Country Report November 2020 www.intellinews.com
