“Following construction of the Jacket and installation of the offshore rig, it is expected that the floating production storage and offloading (FPSO) vessel will be constructed next year in order to start production from the oil layers,” Raham Qasemi told Shana.
The project to produce oil from the South Pars gas field which Iran shares with a neighboring country involves two phases.
With drilling of seven wells in Phase I, an initial output of 35,000 barrels per day is planned which can be developed if their output volume is economic.
The massive field’s in-place oil reserve is estimated at 7 billion barrels.
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