TEHRAN- The CEO of Pars Oil and Gas Company announced the entry of the eleventh well of platform B of phase 11 of South Pars gas field (SPD11B) into the production cycle.

According to Mehr News Agency, quoting Pars Oil and Gas Company, Touraj Dehghani, CEO of Pars Oil and Gas Company, referring to the continuation of the development plan of South Pars phase 11, stated: The eleventh well of platform B of phase 11 of South Pars gas field (SPD11B), after successful completion, flow testing, acidizing, and connection to the relevant platform, has entered the production cycle and is now producing gas steadily.

He added: This well adds about 2.5 million cubic meters per day to the gas production capacity of phase 11 and plays an important role in increasing extraction from the border section of the joint South Pars field.

The CEO of Pars Oil and Gas Company, stating that the daily production of phase 11 has now surpassed 26 million cubic meters of rich gas, said: The development of this phase in recent years has been pursued with a focus on completing production capacity and accelerating drilling and well completion activities, and its results can be seen today in increased production and sustainable extraction from this strategic section of the South Pars field.

Dehghani continued: Increasing production from phase 11, in addition to helping ensure a stable supply of feed for the South Pars refineries, is also of special importance for protecting joint resources and increasing the Islamic Republic of Iran's share of extraction from this giant gas field. It is worth noting that South Pars phase 11 is the last development project of the joint South Pars field, the development of which has been assigned to Petropars Company under the new model of oil contracts. The daily production of this phase has now reached more than 26 million cubic meters, indicating a production growth of about 117 percent in less than the past two years.

EF/MA