According to the National Iranian Gas Company (NIGC), the deal was signed with the aim of optimizing energy consumption in the refinery and preventing waste of gas … TEHRAN – The project for the construction of Iran’s South Pars strategic storage facilities is nearly finished and the storages will be officially inaugurated in near future, Shana reported. Gas recovery from Phase 11, 14 months later The net present value of Iran’s supergiant South Pars natural gas field has jumped from an estimated $116 billion at this point last year to $135 billion now, a senior oil and gas industry source who works closely with Iran’s Petroleum Ministry exclusively told OilPrice.com last week. Offshore staff. In comments on the sidelines of launch of drilling work on the first well at Phase 11 of the South Pars gas field on Monday, National Iranian Oil Company official … The South Pars phase 11 project will have a production capacity of 2 billion cubic feet per day or 370 000 barrels of oil equivalent per day. The $770m phase one development is operated by Petropars (NIOC Pension Fund 60%, Industrial Development and Renovation Organisation 40%). The Pars Oil and Gas Company, a subsidiary of NIOC, has jurisdiction over all South Pars-related projects. The field will be operated by Total, which owns a 50.1% stake, while CNCP of China and Petropars own 30% and 19.9% respectively. In comments on the sidelines of launch of drilling work on the first well at Phase 11 of the South Pars gas field on Monday, National Iranian Oil Company official Reza Dehqan said production of gas in the new phase is planned to begin in the second half of the next Iranian year (October 2021). Creative Commons Attribution 4.0 International License. Iran and China last week started drilling operations in Phase 11 of Iran's supergiant South Pars non-associated natural gas field officially, oilprice.com reported. South Zagros Oil and Gas Production Company: 25: Iranian Offshore Oil Company (IOOC) 26: Pars Oil & Gas Co. (POGC) Petrochemical Sector. Iran is currently recovering 700 mcm/d of gas from South Pars, outdoing Qatar with which it … It has been defined based on the reserves of the South Pars gas field. By. CEO of Pars Oil and Gas Company (POGC) Mohammad Meshkinfam has said development phases of the giant offshore South Pars gas field, except for Phase 11, would have been completed by March 2022. Twitter. The basic engineering of the mega-project, using the latest technologies and know-how, also was done by Worley Parsons. Gas recovery from the resource will commence in the second half of the next Iranian calendar year that begins on 21 March 2021, the report continued. Persian LNG is the LNG project in Iran. POGC’s mandate is the development of the South Pars gas field and North Pars gas field respectively.Decisiveness of the Ministry of Petroleum to uphold and exploit the Islamic Republic of Iran rights in the South Pars gas field led onto the establishment of POGC. The 9th refinery of the South Pars Gas Complex (SPGC) has signed a contract with an Iranian buyer to sell gas it had previously been flaring. South Pars Gas Company is an electrical and electronic manufacturing company based out of Būshehr, Bushehr, Iran. Petropars is now developing the $4b project alone. Iran began drilling operations at phase 11 of the South Pars oil field last week with aim of recovering natural gas in March 2021.. 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