South Pars is a shared gas field between Iran and Qatar, and with the activation of this new well, Iran has further solidified its production lead over Qatar in the joint field.
The eighth well in Phase 11 was drilled to a final depth of over 4,200 meters and is expected to boost Iran’s daily gas output by approximately 3 million cubic meters.
Last month, Iran’s oil industry signed its largest-ever contract, worth $17 billion, with domestic companies to enhance pressure and recovery rates in the South Pars field.
Currently, 70% of Iran’s gas, 50% of its petrochemical feedstock, and 40% of its gasoline production feedstock are supplied by the South Pars field.
Meanwhile, Qatar, despite extracting a smaller share from the field since 2017, has managed to secure a significant role in the global energy economy through its LNG exports.
