News // Oil and gas worldwide
Development of South Pars phase 14 achieves 82% progress
04 September 2018 , 12:07Neftegaz.RU615
Teheran, September 4 - Neftegaz.RU. The project for implementing phase 14 of developing South Pars gas field, which Iran shares with Qatar in the Persian Gulf, has already achieved 82 percent progress, according to the operator of this phase.
Hamidreza Masoudi also said that phase 14 enjoys the most Iranian technical and engineering capabilities among the similar projects, Public Relations Department of Pars Oil and Gas Company (POGC), which is in charge of implementing development phases of South Pars, reported.
South Pars gas field, which Iran shares with Qatar, is estimated to contain a significant amount of natural gas, accounting for about 8 % of the world’s reserves, and approximately 18 billion barrels of condensate. The field is divided into 24 standard phases.
Chinese CNPC has the option to replace French Total as the project operator, but the future of the project remains uncertain. Reacting to speculation that CNPC will acquire the Total stake, the Iranian NIOC recently put out a statement that said no modifications to the contract have been made so far.
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