September 18, 2020

Persian News

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Condensate output reaches 650,000 bpd

TEHRAN – The gas condensate production at Iran’s giant South Pars gas field (in the Persian Gulf) has reached 650,000 barrels per day (bpd), an official with South Pars Gas Company (SPGC) said.

“The equivalent of 650,000 barrels of gas condensate is produced daily in South Pars, part of which is sent to petrochemical complexes, a large part to the Persian Gulf Star Refinery and some is exported,” SPGC Deputy Head Hossein Shamshiri said on Tuesday.

According to Shamshiri, the company is currently operating 12 refineries that process gas produced at the field, including two facilities at phases 11 and 12 which came online a month ago.

“Currently, the offshore section of Phase 14 has been launched in cooperation with Pars Oil and Gas Company (POGC), and the gas produced by its platforms is being used in other phases,” he said.

Noting that currently about 75 percent of the country’s gas is produced by this complex, the official said: “Currently, the production of sweet gas in the complex is 650 million cubic meters per day.”

Iran exported much of its condensate to Asia, with South Korea and Japan being major customers, but U.S. sanctions in 2018 led to a sharp decline in the exports. 

With the sudden halt in condensate exports, the Oil Ministry started to follow a new strategy to increase the consumption of condensate inside the country.

Back in May, Iranian Oil Minister Bijan Namdar Zanganeh said that his ministry plans to prevent direct gas condensate exports to create products with more value-added.

Zanganeh said the plan is to process the condensate in the country’s refineries in order to produce products like naphtha and gasoline and to supply feedstock to local refineries.

“All the gas condensate will be refined in the Persian Gulf Star and Siraf refineries to gasoline and feedstock for petrochemical units,” he said.

The giant South Pars gas field, which Iran shares with Qatar in the Persian Gulf waters, is Iran’s main source of gas condensate.

Zanganeh said South Pars and other nearby fields can produce up to 1 million bpd of gas condensate.

In early February, the minister said that about 130,000 bpd of the country’s gas condensate is used as feedstock for the country’s petrochemical plants and 80,000 bpd go to domestic refineries, apart from Persian Gulf Star.

EF/MA

Original News : https://www.tehrantimes.com/news/452246/Condensate-output-reaches-650-000-bpd

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