Speaking on the occasion of the Government Week (August 24-30) at the Phase 11 location, the Persian Gulf, Mohsen Khojastehmehr added gas production of one of the most strategic projects carried out by NIOC experts and Iranian contractors will begin in the near future.

He said 24 wells will be drilled and 56 million cubic meters of gas and one million tons of ethane per day as well as one million tons of liquefied petroleum gas (LPG) per annum will be produced when the Phase 11 project is fully implemented, predicting that its production will fetch the country $5 billion annually.

Development of Phase 11 is unique as it is the farthest border section of South Pars [Iran shares with Qatar], said Khojastehmehr, explaining that gas production from four yielding layers will start.

Four wells have become operational and other wells will gradually come on stream, the NIOC CEO continued.

He described transportation of the 12C platform and its installation at 11B location as the most unparalleled executive operation in the Assaluyeh and Persian Gulf region.

According to him, the platform weighing 3,200 tons is one of the heaviest offshore structures transported for the first time in Iran.

Phase 11 is the last phase of the South Pars field, whose development is in progress, mentioned the official, however, adding exploration and development operations of new regions outside known blocks are underway and good news will come in the near future.

Khojastehmehr said boosting pressure in the South Pars gas field is among the most important projects of NIOC.