South Pars Crude Oil Loading on the Rise

 South Pars Crude Oil Loading on the Rise

Iran has drawn over 3.1 million barrels of crude oil  from the oil layer of the South Pars Gas Field within the gulf and a lot of barrels are  planned for loading and export within the next few weeks, the operator of the oil layer aforesaid.

Referring to the loading of the last crude oil  consignment within the offshore field, Fardin As’adi conjointly told ISNA on Friday that 500,000 barrels are scheduled for loading on October 15. Daily oil production from South Pars stands at 25,000 barrels and also the rate is unlikely to vary by June next year, the official aforesaid.

“Crude drilling from South Pars is during a trial stage, however output will be magnified to the maximum amount as 150,000 barrels per day in future,” he said.

As’adi aforesaid last month that despite the progressive recovery techniques and solely through water injection, the reservoir’s recovery issue will increase by 10%.

The National Iranian company plans to use increased oil recovery strategies to spice up the extraction rate in oilfields by 35%.

South Pars oil layer is found 130 kilometers off Iran’s coast within the gulf with Associate in Nursing calculable seven billion barrels of oil in situ, however it's onerous to place Associate in Nursing correct estimate on the quantity unless a lot of explorative wells are trained.

He additional that Qatar, that shares the oil and gas field with Islamic Republic of Iran, extracts quite 300,000 bpd from the oil layer.

Iran began to extract crude oil from South Pars in March exploitation FPSO Cyrus the Younger, a floating production storage and offloading vessel. The FPSO was reportedly inbuilt Singapore and value $300 million.

Iran is pushing for higher crude output from the joint field with Qatar.

The small Arab neighbor, that started extracting oil from the sector in 1991, has already trained quite 300 wells with the assistance of international oil giants. it's reportedly extracted quite 1 billion barrels of crude from the joint field within the past 25 years.

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