NEWS & Articles of Petropars

Phase 11 will come to operation earlier till the end of this year/ leading a US$28b oil contract with full Iranian operation

  Phase 11 will come to operation earlier till the end of this year/ leading a US$28b oil contract with full Iranian operation

Petropars Group CEO announced the early execution of South Pars Gas phase 11 by this company and asserted: “till the end of this year, the production of this field would reach 500 million cubic feet.” 

According to the report of public relations and International Affaris of Petropars Group, in the second day of 26th International Oil Industry Fair, Shamseddin Mousavi said in a press conference said: “currently, all drillings on developing this field toward tank section are conducted.” 
According to him, although the tank in phase 11 is seen as one the most complicated parts of infrastructural layers, we attempt to operationalize early production of this field in accordance with the schedule toward the end of the year. 
Pointing out the importance of improving the pressure in the platforms of this phase which was already committed by Total and was assigned to Petropars Group through a contract, Mousavi said: “considering initial studied, now the steps of finalization are now in their legal protocols step.” 
He explained that in the field of studies, designing and establishing industrial capacities, negotiations were made with a series of strong and well – known contractors and emphasized: “increasing the pressure of phase 11 platforms is under the way as a knowledge – based project.”
Concerning the construction Central Oil Processing Factory in South Azadegan OilField, Petropars Group CEO stated: “as the heart of South Azadegan Field, this complex is predicted in two phases (constructing 2 oil and 2 gas rows) where oil trains will come to operation this year while gas trains will be operationalized in the next years.” 

Foruzan Field development in accordance with the schedule
Concerning Foruzan Field development, Mousavi told: “the development of the Field is defined by NIOC in 27 EPCD packages and it is the only offshore field in which 2 drilling rigs are working simultaneously.”
He asserted that the main of developing this joint field with Saudi Arabia is to produce 40,000 barrels of oil per day: “the share of Petropars Group in developing this field is to increase 40,00 barrels per day and by the operation of a well in last Farvardin, 1000 barrels were added to its production.” 

Increasing the number of drilling rigs in SouthAzadegan 
Petropars Group CEO pointed out 50% share of this company in developing South Azadegan joint field and said: “developing this filed is under the way by a general contractor (GC) by which its crude oil production will be increased by 66,000 barrels.”
While explaining conducted initiatives in this field, he added: “currently, the number of drilling rigs is increased from three to seven and we attempt to conduct its development in accordance with the schedule.” 

Executing US$28b contract with full Iranian capacity
Emphasizing on the fact that the priority of executing such projects by Petropars Group is to enhance the capability of knowledge – based companies and localization approach, Mousavi said: “leading a US$28b contract and its successful execution with full Iranian capacity are considered as honors for Petropars Group.” 
He pointed out the implementation of 300km marine drilling, 650 million man/hour works and executing about US$32b projects in oil industry and stated: “currently, we have about US$1 projects that are under way in South Pars phase 11 development, South Azadegan, Foruzan, Oil and Gas Belal, Farzad B fields and CTEP. 

Petropars Group direct investment to execute oil projects
Mousavi asserted that by enjoying the possibilities to finance oil industry projects, while Petropars Group has financed development plans in phases 12 and 19 of South Pars, it has also funded needed capital for early production in phase 11. 
According to him, the model of financing early production in phase 11 is within IPC contracts framework. 


Established in 1998, Petropars Ltd. (PPL) was founded in order to contribute towards the development of Iran’s vast energy resources PPL specializes as a developer of exploration exploitation and production in upstream projects... Read more

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