Iran has awarded a $500mn contract to a “renowned foreign company” for the expansion of production from the offshore South Pars Oil Layer (SPOL). The field is an extension of Qatar’s 300,000 b/d Al-Shaheen which is operated by the North Oil Company 70:30 JV of Qatar Petroleum and TotalEnergies. South Pars itself is the world’s largest gas field including the Qatari ‘North Dome’ portion.
Discovered in 1992, SPOL Phase-1 production began in 2017 (MEES, 24 March 2017) with Iran targeting capacity of 35,000 b/d of 21° API crude oil. Out of nine wells planned in section A2 of the field (see map), only seven were drilled resulting in current capacity of 25,000 b/d. (CONTINUED - 839 WORDS)