South Pars Phase 14 set to deliver first gas in February

Pars Oil and Gas Company expects gas production to begin from the Phase 14 development of the South Pars field in the Persian Gulf by February.

Hamidreza Masoudi, an official for the project, told news service Shana that the programme was currently 77% complete, and estimated the total cost at US$6 billion.

The phase 14A platform is due to be installed at the offshore location in the next few days.

Masoudi said this has been one of the most domestically developed phases of South Pars, with 22 wells and 230 kilometres (143 miles) of associated subsea pipelines.

According to another Shana report, Iranian Offshore Oil Company (IOOC) claims to have achieved US$237 million in savings on deals signed with various contractors during the 2017-18 fiscal year.

This mainly related to rental of buoys, rigs and drilling services, and the purchase of chemicals.

IOOC had reduced costs by favouring domestic contractors, localization of services, and cutting red tape in the process of signing contracts.