Iran Conducts Project to Produce Natural Gas from Joint Oilfield with Qatar
Tehran launched a project to produce natural gas from a key joint oilfield which is located on the maritime border between Iran and Qatar.
National Iranian Oil Company (NIOC) CEO Hamid Bovard said Saturday that Iranian contractors had begun drilling development wells at the Belal oilfield to accelerate plans for gas production from the reservoir.Bovard added the project is central to Iran’s strategy to increase gas output and strengthen the resilience of its national gas supply network.
The Belal field is located 90 kilometers Southwest of Lavan Island in the Persian Gulf. It contains an estimated 3 trillion cubic feet (84.95 billion cubic meters) of natural gas and around 100 million barrels of condensates. Iran began producing oil from Belal in 2003 with the help of French energy major Total. However, gas development at the field has lagged in recent years due to limited investment and foreign sanctions.In 2019, Pars Oil and Gas Company, an NIOC subsidiary, awarded domestic firm Petropars a contract to drill eight wells, including six development wells, at Belal. The contractor installed a platform jacket in May and is working to complete the production platform.The $440-million project aims to produce 500 million cubic feet per day (14.2 million cubic meters) of gas and 15,000 barrels per day of condensates in its first phase.The progress comes despite ongoing US sanctions that continue to restrict Iran’s access to foreign investment and advanced technology.
Bovard stated that contractors are simultaneously constructing a large production platform and a 20-kilometer pipeline that will connect the field to nearby facilities at South Pars, the world’s largest gas reserve shared between Iran and Qatar.
13:51 - 9 آذر 1404
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