South Pars Field Development Despite US Sanctions

Source: www.gulfoilandgas.com 7/27/2013, Location: Asia

Despite US-engineered sanctions against Iran crude oil, development of the different phases of the South Pars gas field is going ahead, Iranian Oil Minister, Rostam Qasemi said.

Capable Iranian specialists and experts have put effort so far to bring developments of South Pars phases and despite sanctions and certain difficulties, the development of this joint field is progressing satisfactorily.

The Iranian Oil Minister further noted that six phases of the South Pars gas field have been developed by 62 percent in less than 35 months and four others by 50 percent, while constructing refineries for some of the phases has progressed more than 75 percent.

Twenty drilling rigs are currently active in the field, and the number is the highest ever since the development of the South Pars gas field got under way.

Qasemi noted that nearly 100,000 people are currently working in the South Pars field, saying that Iranian manufacturers play a major role in procurement of equipment and parts for the development of the field.

On July 5, Qasemi announced that five phases of the South Pars gas field will come on stream in early September.

He added that a large proportion of equipment required for the development of 17 phases of the giant gas field is now being supplied by domestic manufacturers.

Qasemi noted that Iran is turning sanctions into opportunities, and has managed to domestically produce the parts subject to the sanctions through close cooperation between its universities and research centers.

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