Iran: South Pars Drilling Starts in May

Pars Oil and Gas Company (POGC) managing director, Mousa Souri, says the company will start drilling in oil layer of South Pars gas field up to the end of current Iranian month on 20th May.

Speaking to Shana, POGC’s managing director, Mousa Souri, also said that the company has gained permissions to buy or lease a floating production storage and offloading (FPSO) vessel.

He said that a drilling rig would be dispatched to shared part of the layer this Iranian month while another drilling rig will start operations in the independent sector in next Iranian month as of 21st May.

Souri noted that drilling of 7 thousand meters in layer A2 had been completed and drilling another 7 thousand meters is slated to start next month. POGS expects that oil production from the layer will come on line at the end of current year or early next year.

‘Development of the layer needs 800 million dollars investment’ Souri said.

Souri concluded that initial production from the South Pars oil layer is expected to flow at a rate of 35 thousand barrels per day.

[mappress]
Source: POGC, April 26, 2012