Iran to develop offshore Farzad B gas field without India
http://www.chemnet.com May 17,2021 S&P Global
Tehran The National Iranian Oil Co. is set to sign a $1.78 billion deal with a domestic company to develop the Farzad B gas field in the Persian Gulf, oil ministry news service Shana reported May 16.
Petropars, Iran s leading general contractor, will ink a buyback deal with NIOC on May 17 to produce 28 million cu m/d of sour gas over five years from reserves shared with Saudi Arabia. The gas condensates and sour gas produced will be sent to southern South Pars gas plants.Farzad B s gas in place is around 23 Tcf and its gas condensates amount to around 5,000 barrels/Bcf.
Iran's Petropars Ltd. will be awarded a $1.78 billion contract by the National Iranian Oil Co. to develop the giant Farzad-B gas field that was previously .
South Pars looks to the long term
With the 38 phases associated with Iran’s South Pars gas field nearing completion, focus has shifted to maintaining production stability amid pressure concerns
Total cumulative output from Iran’s supergiant South Pars gas field the second and third phases of which came into production in 2002 is now around the 2tn m³ mark and has increased rapidly in recent years. Earlier this year, President Hassan Rouhani said production from the 23 upstream projects already in operation had reached 750mn m³/d, up from 280mn m³/d in 2013.
With state oil firm NIOC aiming to reach 1bn m³/d as quickly as possible, a drilling campaign is ongoing at the offshore Phase 11 (SP11). Total and China’s CNPC signed a contract for SP11 in 2017, before pulling out after the US withdrew from the Iranian nuclear deal a year later.
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Iran to Award $1.8 Billion Gas Field Contract to Local Company
May 16 2021, 9:04 PM
May 16 2021, 8:49 PM
May 16 2021, 9:04 PM
(Bloomberg)
(Bloomberg)
Iranâs Petropars Ltd. will be awarded a $1.78 billion contract by the National Iranian Oil Co. to develop the giant Farzad-B gas field that was previously intended to be tapped by a group of Indian companies.
Petropars will produce 28 million cubic meters of gas a day from the offshore deposit within five years, according to the agreement, the Iranian oil ministryâs official Shana news service reported, with the contract to be signed on Monday. Farzad-B is estimated to hold reserves of around 500 billion cubic meters.