SP gas condensate storage capacity to increase by 2m barrels

TEHRAN, Dec. 23 (MNA) – Iran is set to launch four new condensate storage facilities to increase the storage capacity of the strategic material produced from the giant South Pars Gas Field in the Persian Gulf, a senior official said.

Addressing a press conference on Saturday, CEO of Pars Oil and Gas Company (POGC) Mohammad Meshkinfam said the new tanks will add 2 million barrels to South Pars’ condensate storage capacity.

The POGC head said South Pars Gas Field's production capacity stands at 600 million cubic meters per day, while, currently, Iran is producing an average of 583 mcm/d from the join field which is shared with Qatar.

He noted that all the blocs of the joint field except for Phase 11 are operating, and by the end of the current Iranian calendar year (March 2019), the capacity of sour gas production from the developing phases of this field (13, 14, 22-24) will increase.

The field contributes to the supply of 70% of Iran’s energy demand, he noted.

Outlining the POGC's performance on the occasion of 20th anniversary of its establishment, Meshkinfam said the total gas reserves of the fields operated by POGC, including South Pars, North Pars, Farzad A and B, Golshan, Ferdowsi, Bilal and Kish, currently stand at 673 trillion cubic feet (19.05 trillion cubic meters).

The development of Kish Gas Field has recently been awarded to POGC, he said.

"The first development phase of the field was carried out by the Petroleum Engineering and Development Company (PEDEC) and the remaining phases will be completed in the future by POGC," he added.


News Code 140776


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