1 August 2021 - 17:33
  • News Code: 319233
Iran Invests $2.5b in South Pars Phase 14 Offshore Section

TEHRAN (Shana) -- The operator of the South Pars Phase 14 development project said an investment of $2.5 billion was made in the project so far, adding the first gas sweetening train of the project’s refinery would come online soon.

Mohammad Mehdi Tavassolipour told a videoconference in the presence of Iranian President Hassan Rouhani and Iranian Minister of Petroleum Bijan Zangeneh to launch the project virtually on Sunday, August 01, 2021, that the project’s development was aimed at production of 54.6 million cubic meters per day of sour gas and 75,000 b/d of gas condensate from the joint offshore field.

He noted that the offshore section of South Pars Phase 14, which was designed, engineered and executed by Iranian contractors with a capital of $2.5 billion, has already been put into operation, which has achieved the most important goal of this project. “Cumulative production from phase 14 of South Pars bloc has been 36 billion cubic meters to date,” he said.

The official added that the offshore section of the project entails 4 platforms which had started to come on stream since May 2018.

Furthermore, he said that the project has made 86% progress so far and its first refining train will come online soon.

News Code 319233


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