Iran Earnings from Phases 17&18 hit $2b

Speaking to Shana, Mohammad Meshkinfam said the gas refining facilities of the two phases are operating at suitable condition, adding the last platform of the projects, known as Platform 17B, will be presently loaded at Bandar Abbas Yard.

He said 1,400 tons of ethane is being recovered from the phases on a daily basis, adding the item is highly valued economically.

The official further said more than 37 mcm/d of natural gas and 40,000 barrels of gas condensate is being recovered from the phases on a daily basis.

He said by the end of Shahrivar (the 6th month in the Iranian calendar year, August 22- September 21), the company’s revenues from the two phases crossed 2 million dollars. 

Iran Shipbuilding & Offshore Industries Complex Co (ISOICO) has constructed the platforms for the two phases at Khorramshahr yard in Bandar Abbas, south of Iran.

Iran is to launch 6 new platforms at the massive South Pars gas field by the end of the current Iranian calendar year to March 20 2017.

Phases 17&18 have each four platforms with a total capacity of 2 bcf.

Iranian Marine Industrial Company was initially expected to build the platforms.  

Phases 17&18 are to produce 50 mcm/d of natural gas, 80,000 b/d of gas condensate, 400 tons a day of sulfur, 1 million tons a year of ethane and 1.05 million tons a year o liquefied gas.

Iran’s Industrial Development and Renovation Organization (IDRO), IOEC, National Iranian Offshore Engineering and Construction Company (NIOEC) and Iranian Marine Industrial Company are in charge of Phases 17&18.