Pars Oil and Gas Company (POGC), a subsidiary of National Iranian Oil Company (NIOC), will start new drilling operations at the giant South Pars gas field, according to POGC Head Ali Akbar Majed. He noted that the new drilling is part of POGC’s top programs to maintain production at the field. Majed added that POGC would explore the undeveloped parts of the field to offset the natural decline in the reservoir, which has produced gas over the last 20 years.
Last year, POGC drilled a descriptive well in the eastern part of South Pars. The gas field covers an area of 9,700 square kilometres. Iran owns 3,700 square kilometres of it, while the remaining 6,000 square kilometres are situated in Qatar’s territorial waters. The field is estimated to contain 8% of the world’s natural gas reserves.
