TABNAK, Feb 03: Touraj Dehghani, who serves as CEO of state-run Pars Oil and Gas Company, said that pressure-boosting projects will be carried out in seven zones in South Pars, located on the maritime border between Iran and Qatar in the Persian Gulf.
Dehghani said in a press conference that the projects would also enable Iran to maintain its share of the sprawling gas field.
He said that a first pressure-boosting project in South Pars is expected to come on line in 2023, adding that the onshore section of the projects has already started on facilities in southern Iran with an initial investment of $300-400 million.
“This field will face pressure decline issue in the coming years which could soon impact gas production ... With the execution of this project, we can add more than 20 years to the gas extraction period of the joint South Pars gas field,” said the contractor.
Experts have warned there could be a major drop in production in South Pars within the next few years because of the declining pressure in the field.
The field is responsible for more than 70% of Iran’s total gas production. It covers 40 offshore drilling rigs, hundreds of wells, and thousands of kilometers of underwater pipelines in 28 phases.
It was announced earlier this month that daily output from the field had reached a record of 711 million cubic meters (mcm).
Oil Minister Mohsen Paknejad said in late November that Iran will finalize contracts for pressure-boosting in South Pars until the end of the current calendar year in late March.
