Iran invests in South Pars Phase 14 offshore section

The operator of the South Pars Phase 14 development project said an investment of USD 2.5bn 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 and that the project’s development was aimed at the 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 USD 2.5bn, 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 that 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.