Iran’s Petropars Company starts drilling of 3 infill wells at the South Pars gas field
Date
8/25/2024 4:26:55 AM
(MENAFN) Iran’s Petropars Company has commenced the drilling of three infill wells at the South Pars gas field, a significant offshore Natural gas field shared with Qatar in the Persian Gulf, as reported by Shana. The drilling operations kicked off following the installation of the drilling rig at the SPQ1 gas platform, strategically located on the water border between Iran and Qatar. This marks a critical step in Iran's ongoing efforts to boost gas production from this vital energy resource.
In July, the Pars Oil and Gas Company (POGC), which oversees the development of the South Pars gas field, announced the initiation of a broader project to drill 35 new wells in the field. This project aims to both enhance and sustain gas production levels, ensuring the continued exploitation of one of the world's largest natural gas reserves.
To execute this ambitious drilling project, POGC has partnered with several domestic companies through four distinct project packages. The sub-contractors involved in the drilling operations include Pasargad, Petropars, Petro Iran, and Shomal Drilling companies. These firms will play a crucial role in delivering the project within the stipulated timeline and ensuring that the objectives are met.
The contract for this project is set for a duration of three years, with an estimated investment of USD1.2 billion. The successful completion of these megaprojects is expected to significantly bolster Iran's gas industry and contribute to the broader economy. Additionally, the project is poised to create job opportunities and enhance domestic capabilities in the energy sector, further solidifying Iran's position in the global energy market.
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