TEHRAN (PIN) – Pars Oil and Gas Company (POGC) planning manager said 1.4 billion dollars had been allocated for the development of South Pars (SP) field since the current Iranian year (started March 21, 2007) and the fund was predicted to touch 3.5 billion dollars by next March.

Morteza Elahi added the figure in 2006 stood at 2.7 billion dollars, showing a 38 percent growth when compared to that of its preceding year – 1.95 billion dollars.
He put the two-trillion-dollar value on South Pars field’s gas reserves, saying the giant field’s deposits constituted eight percent of the world’s gas reserves.
Phases 1-5 have so far come on stream and Iran’s acting oil minister last Wednesday said phases 6-8 had made almost 98 percent progress, with Phase 6 being fully ready for operation.
“Phase 6 has been completely developed and progress of phases 7 and 8 had surpassed 97.5 percent,” the Petroleum Ministry quoted Gholamhossein Nozari as saying.
The caretaker added the refineries of the three phases were at the production stage and would come on stream within the next three months.
Nozari expressed his satisfaction with the pipe-laying operations in the three phases, saying a trivial problem had occurred in the third pipeline that would be removed immediately.
Phase 6 would be supplied with the required gas as of late Nov. and it would play a logistical role for refineries of South Pars field, said the official.
Nozari paid a visit under construction gas refineries of phases 6-8 and development plans of phases 9 and 10 on Oct. 8.
---------------------- SP Phase 9 to go on stream in winter
South Pars field’s Phase 9 with a daily output of 25 million cubic feet of gas would become operational in the upcoming winter, said the project manager.
Attending a news conference hosted by Pars Oil and Gas Co. (POGC), Morteza Emami added, “This is the first time an Iranian team manages and funds a project in the presence of foreign companies.”
According to him, phases 9 and 10 of SP gas field are funded in the finance form and semi-governmental companies are implementing the project.
Emami said 11 wells had been so far drilled in phases 9 and 10, adding the team was faced with equipment supply problem that would be settled soon.
POGC Managing Director Ali Vakili said phases 9 and 10 had made 80 percent progress, expressing hope the two phases would start work soon to meet the growing need in winter.
Phases 9 and 10 have been designed to produce two billion cubic feet of gas a day. The two phases are to yield 50 million cubic meters of methane, 2,600 tons of ethane, 1,200 tons of butane, 2,000 tons of propane, 77,000 tons of gas condensates, and 400 tons of solid sulfur daily.
------------------------------ First SP refinery put into operation after overhaul
Manager of the first refinery of South Pars (SP) field’s Phase 1 said the plant was overhauled and put into operation.
Ahmad Enayatollahi added the refinery and one of the offshore platforms of Phase 1 were overhauled last week and the phase with a daily production capacity of 12 million cubic meters of gas came on stream.
He said the second platform of the refinery was also under repair and would become operational in the near future.
“Sweet gas produced by the first phase will be pumped into the cross-country grid through the third and fourth pipelines,” said the manager, adding the first refinery would also produce 20 thousand barrels of gas condensates and 100 tons of sulfur per day.
South Pars Technical Repair and Maintenance Company (TMC) Managing Director Mohammad-Kazem Bahmani told reporters the refinery of the first phase underwent a 14-day overhaul and was ready for operation at full capacity.
He added the first phase’s offshore platform and refinery were overhauled by the TMC engineers in Assaluyeh, southern province of Bushehr.