Iran has started drilling the first development well at South Pars gas fields phases 22-24
According to the IRNA news agency, the Sina drilling rig is drilling the development well.
The first exploratory well of phases 22-24 of the South Pars gas field, south of Iran, was drilled by Pars Oil and Gas Company (POGC) in June and was also drilled by the Sina rig.
Studies have shown that the drilled oil layer has the capacity to produce 20mn cu/ft of natural gas per day.
The South Pars gas field phases 22-24 will produce around 12.5mn cu/m of natural gas once the phases become operational by May 2013, project manager, Farhad Izadjou, was quoted as saying.
Izadjou added that US$5.1bn will be invested to develop the three phases, which it is hoped will produce 56.6 mn cu/m of sour gas, 75,000 barrels of gas condensates, 400 tons of sulphur and 870 tons of LPG.
The South Pars gas field is shared by Iran and Qatar. The Iranian share is divided into 29 phases and contains an estimated 14 trillion cu/m of gas, or around eight per cent of the total world reserves, and more than 18bn barrels of LNG resources.
