South Pars (Phase 22-24)

Location

The South Pars (Phase 22-24) gas field is located offshore in the Persian Gulf, Iran. The exact coordinates are 26.8614, 52.1813 (WGS 84).

Operator and Ownership

The project is operated by Pars Oil and Gas Company (POGC), a subsidiary of the National Iranian Oil Company (NIOC). NIOC holds 100% ownership of the project.

Project Details

Phases Overview

Phases 22, 23, and 24 are part of the larger South Pars gas field development, which is planned to be developed in 24 to 30 phases. These specific phases aim to enhance the overall production capacity of the South Pars field.

Infrastructure

• The development includes 38 wells, four offshore platforms, two main pipelines, and two infield pipelines.
• The second platform for these phases was set for installation in 2018, highlighting the ongoing development activities.

Production Capacity

• The phases are designed to produce 56 million cubic meters of natural gas per day, which translates to approximately 1.98 billion cubic feet per day.
• Additionally, the project will yield 75,000 barrels of gas condensate per day, 1.05 million tonnes of liquefied petroleum gas (LPG) annually, and one million tonnes of ethane annually. It will also produce 400 tonnes of sulfur per day.

Start of Production

Production from Phases 22-24 began in 2020.

Capital Expenditure

Each standard phase of the South Pars development is estimated to have an average capital spend of around $1.5 billion, although specific costs for Phases 22-24 are not detailed in the sources provided.

Production and Reserves

• Gas Production: Designed capacity of 18,250 million cubic meters per year (approximately 1.98 billion cubic feet per day).
• Condensate Production: 29.2 million barrels per year (approximately 75,000 barrels per day).
• LPG and Ethane Production: 1.05 million tonnes of LPG and one million tonnes of ethane annually.

Development and Contractors

The development of Phases 22-24 is led by Pars Oil and Gas Company (POGC), with various Iranian companies involved in the supply of equipment and services. The project involves significant local participation, reflecting the high level of Iranian involvement in the South Pars field development.

Significance

The South Pars field, including Phases 22-24, is part of the world's largest natural gas field, the South Pars/North Dome field. The Iranian portion of this field accounts for 60% of Iran's gas reserves and about 10% of the world's total gas reserves.