The five phases of the South Pars gas field development located in the Persian Gulf are nearing completion.

Iranian deputy minister of petroleum Ahamad Qalebani expects that phases 12, 15-16 and 17-18 are expected to come online by 20 March this year.

The South Pars Oil and Gas field covers an area of 9,700km², of which, 3,700km² are in Iranian territorial waters in the Persian Gulf while the remaining 6,000km² (North Dome) are in Qatari territorial waters.

Iran’s Oil Ministry also signed a deal with an Iranian contractor company to drill two appraisal wells in the South Pars oil layer. The South Pars oil layer is shared with Qatar.

The contract valued at about $182m was signed between Pars Oil and Gas Company and Global Petrotech Company.

Global Petrotech must drill two appraisal wells in 40 months to assess the South Pars field’s oil exploitation potential, under the terms of the contract.

The drilling is expected to provide information on the amount of in-place oil reserves of the field which will aid in creating a major development plan for the offshore field.

Horizontal drilling will cover 6km in the South Pars field’s oil layer to gather information and upgrade reservoir models of the joint oil field.

More than 90% of the South Pars oil layer is situated in Qatar’s territorial waters while Qatar has drilled 160 offshore wells.

It is producing more than 400,000bpd of crude oil by continued injection of water into the oil layer.

Qatar’s production from the South Pars oil layer will exceed 500,000bpd of crude oil upon completion of some development projects, reports presstv.ir.

A daily total of 35,000 barrels of crude oil from Section A of the field in the first phase of its development is expected to be produced under the terms of the new contract.