Iran increases gas production in search of new export markets
TEHRAN — Iran has ramped up its natural gas production in a bid to increase exports to world markets as demand for natural gas in Europe surges ahead of winter, according to a report by Oilproce.com.
“Iran made it clear last week that it was stepping up gas production operations at the supergiant natural gas field of South Pars, with a focus on its controversial Phase 11,” the report said.
“The South Pars Phase 11 development project activities are ongoing and this Phase 11 winter gas will be available,” said Mohsen Khojasteh-Mehr, Director of Iran’s National Oil Company (NIOC).
Last week, a senior official at Pars Oil and Gas Company (POGC), which is in charge of developing Iran’s giant South Pars gas field, said his company plans to drill 35 new wells to improve and maintain gas production. in the huge common field. .
Today, as the threat of a sharp rise in gas prices and supply disruptions grows in Europe, Russia’s state-owned gas company Gazprom also said that if the EU introduces a cap on Russian gas prices , it would suspend all exports of its gas to EU countries.
Given the possibility of Russian gas being stripped from European markets, Iran should start exporting to Europe via third countries such as Turkey or Iraq.
The South Pars gas field, which Iran shares with Qatar in Persian Gulf waters, is divided into 24 standard development phases in the first stage. Most phases are fully operational at the moment.
The huge offshore field covers an area of 9,700 square kilometers, of which 3,700 square kilometers are within Iran’s territorial waters in the Persian Gulf. The remaining 6,000 square kilometers, called North Dome, are located within the territorial waters of Qatar.
The field is estimated to contain a significant amount of natural gas, representing about eight percent of global reserves, and about 18 billion barrels of condensate.