Iran Officially Launches South Pars Oil Layer Project

Iranian President Hassan Rouhani launched the project via a video conference in Iran’s oil hub Assalouyeh. 

Iran is now recovering 35,000 b/d of crude oil from the offshore gas field’s oil layer. 

Crude production from the field began on March 20, the day Iran celebrated anniversary of nationalization of its oil industry. 

The project is one of the few projects directly administered by the National Iranian Oil Company (NIOC). 

Iran shares South Pars with Qatar in Persian Gulf waters. 

The field is estimated to holds 1.5 billion to 4 billion barrels of crude oil in its oil layer.