Iran started oil recovery from the oil layer of the gas field on March 20 and has since then exported 2 million barrels of crude from the layer.
Iran shares South Pars with Qatar in Persian Gulf waters.
The layer is estimated to
contain over 6 billion barrels of crude oil with an API of 21 and recovery rate of 10% which can increase to 35% by adopting EOR and IOR techniques for oil recovery.
Iran has is developing its share of the layer under an newly-devised model of oil contract, aka Iran Petroleum Contract (IPA).
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