26 Apr 2024
Saturday 19 August 2017 - 16:44
Story Code : 272906

Iran exports 2 mb of SPOL crude oil to East Asian market

Shana-- Iran has so far exported over 2 million barrels of crude oil recovered from the oil layer of the supergiant South Pars Gas Field to east Asian markets.

Iran started oil recovery from the oil layer of the gas field on March 20 and has since then exported 2 million barrels of crude from the layer.

Iran shares South Pars with Qatar in Persian Gulf waters.

The layer is estimated to contain over 6 billion barrels of crude oil with an API of 21 and recovery rate of 10% which can increase to 35% by adopting EOR and IOR techniques for oil recovery.

Iran has is developing its share of the layer under an newly-devised model of oil contract, aka Iran Petroleum Contract (IPA).
https://theiranproject.com/vdcfx0d0vw6de1a.r7iw.html
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