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The Development of Phase 11 of South Pars is the Result of Trusting Iranian Experts Successful Energy Diplomacy Increased Oil Exports

(Wednesday, July 5, 2023) 12:10

The CEO of National Iranian Oil Company called the development of Phase 11 of South Pars the result of trusting Iranian experts and said: With the completion of the development of this phase, 56 million cubic meters will be added to the country's gas production daily, which will bring an annual income of 5 billion dollars.

According to the reporter of the National Iranian Oil Company information base, Mohsen Khojstemehr, on Monday evening; On July3, appearing on Khabarsima's First Front program, said:
 
With the beginning of the work of the 13th government, important approaches in accelerating the development of joint fields in the National Iranian Oil Company were adopted, based on which an 8-year plan was formulated for parts of the joint fields that were delayed in development.
He stated that the development of phase 11 of South Pars was delayed due to relying on the presence of foreigners in the past and said:
With the contribution of the 13th government and taking advantage of our opportunities, skills and smart initiative, the development process of this phase was seriously put on the agenda.
The deputy oil minister stated:
 
With the emphasis of the President and giving priority to the development plan of phase 11 in 2021, we witnessed the acceleration of the development of this phase in various sectors, including drilling and supply of pipelines;

Also, instead of building the platform, which takes 3 years in the most optimistic scenario, it was decided to use phase 12, which no longer had high efficiency.
Referring to the relocation of platform 12c and its successful installation in the phase 11 position by the Oceanic vessel, Khojastemehr said:
 

Considering the lack of experience of moving the platform in the sea, it can be said with certainty that this action is a great achievement in the 13th government.
To put it more clearly, moving a platform weighing more than 3200 tons, which requires precise and complex engineering activities with high risk, it is an action that was carried out by Iranian engineers and for the first time in the country.
 
* Production Countdown of Phase 11 of South Pars
While congratulating the noble nation of Iran and the oil industry community, Khojastemehr announced the necessary measures for pre-commissioning and the start of the countdown for production of Phase 11 of South Pars and said:
 

From the economic point of view and public and regional opinions, the development of phase 11 was of great importance, and fortunately, the development of this phase with trust in Iranian experts and the policy of maximum production with minimum time and cost was successful in the 13th government.
The Deputy Oil Minister emphasized that the development of phase 11 of the South Pars common field will start soon, in stages and through four wells.
* Increasing Oil Exports with Successful Energy Diplomacy
Referring to the significant increase in oil exports in the 13th government compared to the previous government, Khojastemehr said:
 

The oil industry in the 13th government, relying on the wisdom of the oil minister and the successful adoption of energy diplomacy, managed to significantly increase oil exports.
 

In another part of his speech, the CEO of the National Iranian Oil Company, referring to the importance of drilling in production, said:
More than 50% of the development costs of an oil field are related to the drilling sector, so it requires a special look at this sector.
Referring to the reverse step event of improving productivity in drilling operations, which was held a while ago with the presence of knowledge-based companies, Khojastemehr added:
Having mentioned the importance of drilling discussion, reducing costs and improving processes, as well as the challenges of this field for technology companies; it is hoped that these companies can take positive steps in this field.
* Increasing the Role of Private Companies in the Drilling Sector
He stated:
In the offshore drilling sector, we also need a drilling machine, and in this field, the National Iranian Oil Company has negotiated with private sector companies with a supportive view and the purchase of a five-year service; It is expected that with this measure, the shortage of masts will be solved and private sector companies will become the owners of masts.
The Deputy Oil Minister emphasized that all the actions of the National Iranian Oil Company in the 13th government have led to the growth of production.
 

The development plan for the joint fields of North and South Yaran, Sohrab, Phases 11 and 14 of South Pars, Bilal, South Pars oil layer, Farzad, etc., is being carried out relying on  the power of the private sector and domestic contractors.
In response to a question about popularizing the oil industry, the CEO of National Iranian Oil Company said:
Fortunately, suitable mechanisms have been provided for people's investments in a place that is both attractive and profitable, and even today we can claim that important events have taken place in the oil and energy stock market.
 
Referring to the sale of bonds in the stock market, he also stated:
The volume of bonds sold in the stock exchange was very significant, so that we are currently negotiating to sell these bonds abroad.
* Trying to Improve the Share of the Public and Private Sector in the Oil Industry
 
Deputy Minister of Oil explained:
 
So far, the role of banks in the economy has been to grant facilities, while the National Iranian Oil Company has encouraged banks to invest by signing an agreement for the development of Azadegan Square last year.
It is an important event and banks are expected to increase the share of people in this investment.
Khojastemehr continued: "Dasht Azadegan Arvand Company was formed with the aim of developing Azadegan Square, following an agreement with banks, and its development contract will be signed soon."
 
In the end, he emphasized: All efforts of the National Iranian Oil Company are to improve the share of the private and public sector in the oil industry.
 
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