Page 7 - MEOG Week 47.pdf

MEOG PerFormanCe MEOG
as possible.
The POGC CEO added that Phase 14 would
soon be initiated, noting that the 14B platform was “ready” pending pipeline hook-up, with three other platforms set to be installed by the end of March 2020.
Meshkinfam was also cited by Shana as say- ing the development of Kish Gas Field near Kish Island in the Persian Gulf was one of the top current priorities of POGC, with a review of the first phase of developing the field under way. In September, he noted that POGC and Petropars had agreed a $440mn deal for the development of the Belal gas field, 90 km southwest of Lavan Island under a buyback contract.
Output from the field, which is set to reach 14.2mcm per day within 34 months, will be pro- cessed at the onshore refinery dedicated to SP12.
An official announcement about the deal said
that Petropars’ involvement in Belal would see it drill eight wells, launch wellhead jackets, and construct and install a topside and a 20-km sub- sea pipeline.
Investment to-date in South Pars is thought to be in excess of $32bn, with several times this required for the full development of the remain- ing phases.
Earlier in the year, Middle East Oil & Gas (MEOG) reported that the NPV of the high-pro- file SP11 site was $116bn.
Iran has around 34tn cubic metres of proved natural gas reserves, with the supergiant South Pars accounting for around 14tcm as well as 18bn barrels of gas condensates.
The Islamic republic holds a 3,700 square km portion of the 9,700 square km deposit that is shared with qatar, where it is known as the North Dome field.™
Week 47 27•November•2019 w w w . N E W S B A S E . c o m P7