Iran Exports Ninth Oil Shipment from South Pars

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Iran exported ninth crude oil shipment from the oil layer of South Pars. bringing the overall volume of the exports to 4.73 million barrels since the country started tapping the layer in March.
The tenth oil cargo of the South Pars gas field`s oil layer is scheduled to be loaded by the end of 2017. Director for planning of Iranian Offshore Oil Company (IOOC) Mohammad Hossein Daneshfar was quoted as saying by Shana.
The Islamic Republic has recently started production of 25.000 barrels per day ‎of crude oil from the layer and started talks with foreign investors. including Maersk. for the second phase of the layer development project. in order to increase the output level to 54.000 bpd.
Development of the oil layer needs use of modern technologies. including the Enhanced Oil Recovery (EOR) methods.
Previously. Fardin Asadi. operator of South Pars oil layer`s development project said. that oil export from the layer is carried out every 20-25 days. when the extracted oil reaches the ceiling of 550.000 barrels.
Based on long-term plan. Iran targets to extract 200.000 barrels of crude oil from the South Pars oil layer in the next 20 years. At least 300 wells will be drilled in this regard.
South Pars is estimated to contain over six billion barrels of crude oil with the recovery rate of 10 percent. which can be increased to 35 percent by adopting EOR and IOR techniques for oil recovery.