POGC inks $20b deal with domestic firms to boost SP recovery factor

Iran’s Pars Oil and Gas Company (POGC), which is in charge of developing the country’s giant South Pars gas field in the Persian Gulf, has signed a deal worth $20 billion with domestic contractors to improve the pressure at the field’s wells and increase its recovery factor.

As Shana reported, the signing ceremony of the mentioned contract was held in Tehran on Sunday, with the Head of the National Iranian Oil Company (NIOC) Mohsen Khojasteh-Mehr in attendance.
Based on the said contract, signed with Petropars, MAPNA Group, Khatam-al Anbiya Construction Headquarters, Oil Industries’ Engineering and Construction (OIEC), and Nargan Company as contractors, the field’s gas output will increase by 90 trillion cubic feet and also two billion barrels of gas condensate will be added to the field’s output.

The contractors will review and validate basic and advanced engineering documents and provide correction views.
Cooperating with the employer to finalize the project implementation plan, ordering late delivery items, preparing the strategy for assigning subcontracts in the form of EPC contracts, negotiating and creating partnerships between domestic and international platform builders for the construction of pressure-boosting platforms in the Persian Gulf and taking the necessary measures to start geotechnical and geophysical contracts are also among the duties of contractors.

This contract is signed while Qatar is also building pressure-boosting platforms in the southern part of this joint field.
South Pars gas field, which Iran shares with Qatar in the Persian Gulf, is estimated to contain a significant amount of natural gas, accounting for about eight percent of the world’s reserves, and approximately 18 billion barrels of condensate. The field is divided into 24 standard phases.

The huge offshore field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran’s territorial waters in the Persian Gulf. The remaining 6,000 square kilometers, called North Dome, are situated in Qatar’s territorial waters.