TEHRAN – CEO of NIOC and Deputy Oil Minister Mohsen Khojasteh-Mehr on Saturday said that referring to the measures taken in South Pars Gas Field and other fields to increase natural gas output rate, South Pars Phase 11 will be put into operation stage after two decades.
Khojasteh-Mehr made the remarks after his visit to the oil drilling rig installed in the B11 location of the phase and restated that, relying upon the round-the-clock efforts of industrious engineers of the National Iranian Oil Company, the development plan of South Pars Phase 11 will be put into the production stage after two decades.
Stating that the oil industry is a driving force of the economy of the country, he said that what is observed in the gas field is the result of $85 billion worth of investment made for launching this giant project in two decades which is of the honors of the Islamic Republic of Iran in international arenas.
With the estimates made in this regard, more than 700 million cubic meters of gas/day will be produced in South Pars Gas Field, he said, adding that more than 70 percent of gas needed in the country is produced from the joint gas field.
Presently, $27 billion worth of projects are being launched in the upstream sector of the South Pars Gas Field, Khojasteh-Mehr emphasized.
Khojasteh-Mehr also said that, Dasht Azadegan Arvand Company will start the operations of for the integrated development of Azadegan Field within the next two weeks.
He said: “NIOC owns 54% of the organizational positions of the oil industry and 47% of the industry’s human resources, and provides technical, engineering and oil and gas services in 16 operating and oil companies with 26 management and headquarters units and 6 representative offices.”
He touched on the oil and gas reserves of Iran’s oil industry: “NIOC has 158 billion barrels of crude oil equivalent and 182 billion barrels of crude oil equivalent in the gas sector, which is a total of 340 billion barrels of crude oil equivalent which is considered the first in the world.”