Page 9 - MEOG Week 45 2021

MEOG PRICES & PERFORMANCE MEOG

Field maintenance stays

on the agenda for Iran

IRAN FOLLOWING last week’s completion of over- from Export Jetty No.2 and sulphur from the
haul work on the offshore South Pars gas field, Siraf Pars port by the end of the current Iranian
field maintenance has remained high on Iran’s calendar year in March 2022.
agenda as the government seeks to dispel con- Meshkinfam added that sulphur produced
cerns about winter supply shortages. at the South Pars phase 2 refinery could begin
Meanwhile, the National Iranian Oil Co. being stored at a new 43,000 tonne storage silo
(NIOC) gave assurances that plans to maintain at Siraf Pars in December ahead of the start of
and increase oil production levels would not be exports in late March.
impacted by management changes in state oil
firms. Oil outlook
CEO of the South Pars’ developer Pars Oil & Meanwhile, NIOC’s deputy CEO for Deputy
Gas Co. (POGC), Mohammad Meshkinfam said CEO for Development and Engineering Affairs,
that production from South Pars would run at Reza Dehghan moved to assure of no let up in
its full capacity throughout the winter. “We are efforts to maintain and expand oil production
fully prepared to produce gas from 37 platforms capabilities.
in South Pars at the rate of 700 million cubic “Implementation of plans to maintain and
meters per day,” he said. This follows the com- enhance oil production will continue at a faster
pletion of annual overhaul work across the field’s pace than before,” he said. The executive added:
24 offshore phases. “Despite management changes in the National
POGC, a subsidiary of NIOC, holds ultimate Iranian Oil Company and the NISOC, according
responsibility for the projects, with fellow NIOC to the coordination and planning, plans to main-
subsidiary Petropars carrying out jobs on the tain and enhance oil production will continue at
surface and subsurface. a faster pace,” noting that “reforms will be made
Meshkinfam noted that POGC’s top priority to expedite the projects.”
is to achieve production from the first gas puri- His assurances come after Oil Minister reit-
fication train at the South Pars phase 14 refinery. erated comments suggesting that Iran needs to
Another key development is the finalisation of raise $145bn from domestic and international
a 60-km condensate pipeline which is expected investors to carry out planned work to expand
to be complete in December. “With the comple- the oil sector over the next four to eight years.
tion of this project, gas condensate of the South Much of any such investment is likely to be
Pars refineries will be transferred by a pipeline diverted towards the West Karoun cluster in
with a capacity of [24,000 cubic metres per day] Khuzestan province which includes several
to [South Pars phase 1 refinery] and the gas con- large oilfields that straddle the Iran-Iraq border,
densate storage facility in the area,” he said. A namely Azadegan, Yaran, Yadavaran and Dark-
combined-cycle gas turbine (CCGT) facility is hoein, with the first three divided into north and
also expected to be launched at the site. south projects. The block holds an estimated
POGC anticipates the start of LPG exports 67bn barrels of oil in place.™

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