Petropars to start drilling wells in SP Phase 11 by June

TEHRAN, Apr. 19 (MNA) – The CEO of Petropars Company said due to the coronavirus outbreak in recent months loading of jackets to South Pars Phase 11 project were delayed but drilling operations would begin in the project by early summer.

Hamidreza Masoudi said Sunday that the construction of the phase’s jacket has been completed and preparations are underway to load it.

He further said drilling operations over 5 wells in the offshore phase would start by June.

Petropars is developing the project which was initially intended to be developed by a consortium of Total, CNPC International and Petropars.

French Total S.A. signed a $5 billion agreement in November 2016 to develop SP Phase 11(one of the least developed phases) as head of a consortium that included China National Petroleum Corporation (CNPC) and Iran’s state-owned firm Petropars.

After canceling the agreement to develop the field due to the mounting US pressure and new sanctions that forced international firms to walk away from Iran in 2018, the French energy company submitted the project's documents to its partner, CNPC, in October 2018.

South Pars is the world’s largest gas field, shared between Iran and Qatar, covering an area of 3,700 square kilometers of Iran’s territorial waters in the Persian Gulf. It adjoins Qatar’s North Field that measures 6,000 square kilometers.

The reservoir constitutes 96% of liquefied petroleum gas, 100% of ethane and 55% of sulfur produced in Iran.

MNA/SHANA

News Code 157785

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