French oil giant Total started work for the development of phase 11 of the South Pars Gas Field, the world's largest gas field, Gholam Reza Manouchehri, deputy head of the National Iranian Oil Company (NIOC) for Engineering and Development Affairs said on Wednesday.
According to Iran's official news agency IRNA, Manouchehri said that Iran and Total already cooperate in the upstream sector in the construction of equipment, drilling, engineering and offshore fields.
Manouchehri also noted that NIOC plans to upgrade the speed and quality of Iranian rigs' drilling.
Total signed a Heads of Agreement with the National Iranian Oil Company (NIOC) for the development of phase 11 of South Pars in November 2016.
The South Pars 11 project will have a production capacity of 1.8 billion cubic feet per day, or 370 000 barrels of oil equivalent per day, from which the produced gas will feed into Iran's gas network.
The South Pars field is one of the largest independent gas reservoirs in the world lying on the territorial border between Iran and the State of Qatar in the Persian Gulf.
The field covers an area of 9,700 square kilometers, of which 3,700 square kilometers belongs to Iran. The Iranian portion is estimated to contain some 14 trillion cubic meter of gas reserves, which amounts approx. to 7.5 percent of the world's gas reserves and approximately half of Iran鈥檚 gas reserves.
By Dilara Zengin
Anadolu Agency
Dilara.zengin@aa.com.tr
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