South Pars Oil Production Starts

Iran has started production from the South Pars oil layer and is targeting 35,000 b/d within a matter of days. The field is an extension of Qatar’s Al-Shaheen and Iran plans to offer it under the IPC in a bid to boost output to 65,000 b/d. Al-Shaheen operator Maersk is being replaced by Total, but has been pre-qualified to bid for IPC tenders and could be a frontrunner for the field.

NIOC lists South Pars crude as a heavy 21° API grade, heavier than at Al-Shaheen (28° API). The field is being produced by the Cyrus floating production and storage vessel (FPSO), which appears to have around 800,000 barrel storage capacity. (CONTINUED - 109 WORDS)