Mohammad-Mehdi Tavasolipour noted that the South Pars gas field is shared between Iran and Qatar, supplying 70% of Iran’s gas consumption and 40% of the feedstock for gasoline production. This underscores the field’s strategic importance.

He added, “We have recently entered the second half of the field’s production life. Like all gas and oil fields worldwide, which experience pressure and production declines in their second half, we had to prepare for this scenario.”

Tavasolipour explained that Pars Oil and Gas Company conducted studies to address the pressure decline, evaluating over 20 scenarios to select the best option. Proposals included onshore and offshore pressure enhancement, or a combination of both. After considering criteria such as increased recovery rates, economic and environmental factors, passive defense measures, and execution feasibility, the offshore option was chosen as the optimal solution.

$780b revenue from pressure enhancement project

The executive of the South Pars pressure enhancement project added that, following the studies, seven hubs were defined for offshore implementation, covering 28 standard phases.

Each hub will include two pressure enhancement platforms with a capacity of 1 billion cubic feet per day, two power generation platforms, and two residential platforms to accommodate 120 operational staff.

Tavasolipour stated that over 40 kilometers of subsea pipelines and a total of 42 offshore platforms, along with more than 600 kilometers of pipelines, will connect wellhead platforms to pressure enhancement platforms. The project will be completed through contracts with capable domestic contractors and international collaborations.

He emphasized that upon full implementation, the recovery rate of the South Pars field will increase from 54% to 75%, with the economic value of the extracted gas and condensates exceeding $780 billion.

Technology advancement, job creation

Tavasolipour highlighted another critical aspect: prior to this project, Iran lacked experience in constructing platforms weighing around 10,000 tons.

This initiative will enable domestic platform construction yards to acquire the necessary technical expertise. Additionally, it will create thousands of direct and indirect jobs, providing significant opportunities for skilled manpower in engineering, execution, and labor sectors.

He expressed hope that the National Iranian Oil Company and Pars Oil and Gas Company will play a significant role in managing the country’s gas balance through the full implementation of this project.

“Not only will gas production stabilize, but with the advancement of technical knowledge and job creation, a major step will be taken toward the development of Iran’s oil and gas industry,” he said.