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Date: Tuesday, July 14, 2015
South Pars Phase 1 Output Up 500mcf/d

TEHRAN (POGC)--The head of Pars Oil and Gas Company (POGC) said the daily production capacity of the massive South Pars gas field has increased by 500 million cubic feet.
Ali-Akbar Shabanpour said the capacity has been provided after four new wells were spudded by the SPD 1 drilling rig and 400mfc/d of gas is now being recovered from the platform.
The SPD1 platform of Phase 1 can now produce 1bcf/d of gas, he said.

Iran's South Pars field, shared with Qatar, covers an area of 500 square miles and is located 3,000m below the seabed at a water depth of 65m. The Iranian side accounts for 10% of the world's and 60% of Iran's total gas reserves. Iran's portion of the field contains an estimated 436 trillion cubic feet.
Phase 1 development of the gas field is operated by Petropars (NIOC Pension Fund 60%, Industrial Development and Renovation Organization 40%). Around $300m worth of contracts have been signed with South Korea's Samsung and Sadra (Iran Marine Industrial Company) for the development of the phase. The phase's utility facilities started operating in 2002 and the process facilities were operating by July 2003, giving a total output of one billion cubic feet of gas a day and 40,000bpd of gas condensates.

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