Iran Begins Drilling in South Pars Phases 22-24

Pars Oil and Gas Company has drilled the first exploratory well of phases 22-24 of the South Pars gas field, Tehran Times has reported.

Studies showed that the drilled layer has the capacity to produce 20 million cubic feet of natural gas per day. Some 12.5 million cubic meters of natural gas will be produced from the South Pars gas field phases 22-24 once the phases become operational by May 2013.

The South Pars field is shared by Iran and Qatar. The Iranian share, which is divided into 29 phases has about 14 trillion cubic meters of gas or about 8% of the total world reserves and more than 18 billion barrels of liquefied natural gas resources.