Subscribe to our free daily newsletters
  Oil and Gas News from OilGasDaily.Com  

Subscribe to our free daily newsletters

Iran lauds oil loading potential from Persian Gulf
by Daniel J. Graeber
Washington (UPI) Aug 30, 2017

It's possible that almost a million barrels of oil could be loaded onto a floating production facility in the Persian Gulf, an Iranian petroleum director said.

Iran started producing oil for the first time from the South Pars field complex in the Persian Gulf earlier this year. The oil layer is different from the gas reservoirs in a region that straddles the maritime borders of Iran and Qatar.

Shana, the Oil Ministry's news website, reported production from seven oil wells in the South Pars complex should reach a net peak capacity of 35,000 barrels per day. The oil ministry estimated the field holds more than 14 billion barrels of oil.

Fardin As'adi, the Iranian director of the South Pars oil development plan, said it's possible to load as much as 700,000 barrels of crude oil onto a floating production, storage and offloading vessel. An hourly rate of 30,000 barrels is possible.

Since the start of operations earlier this year, the director said total production has passed 3 million barrels. According to him, the FPSO is novel for the region.

"There has only been the experience of using floating storage without processing equipment on the Qatari side and floating storage without equipment in the Iranian side so far," he said in a statement.

Iranian officials aimed to start the project in the early 2000s, but progress was delayed because of the lack of ability to secure the FPSO.

As'adi gave no indication about the destination of the oil sourced from the FPSO. Last year, the National Iranian Oil Company said Dutch trader Trafigura was moving Iranian crude oil to the Chinese market, though Trafigura had no comment on the shipments at the time. The NIOC said in March that it expected the first crude oil consignment from South Pars would be ready for shipment in about a month.

The Iranian component of the basket of crude oils that make up the benchmark for the Organization of Petroleum Exporting Countries was up 38 percent from last July. Iran produced an average 3.8 million barrel per day last month, up moderately from June.

Oil and gas wells as a strong source of greenhouse gases
Kiel, Germany (SPX) Aug 29, 2017
The pictures went around the world. In April 2010, huge amounts of methane gas escaped from a well below the Deepwater Horizon platform in the Gulf of Mexico. This "blow-out" caused an explosion, in which eleven people died. For several weeks, oil spilled from the damaged well into the ocean. Fortunately, such catastrophic "blow-outs" are rather rare. Continuous discharges of smaller amounts of ... read more

Related Links
All About Oil and Gas News at

Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once

credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly

paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Researchers identify cheaper, greener biofuels processing catalyst

How a bacterium can live on methanol

Cyborg bacteria outperform plants when turning sunlight into useful compounds

Stretchable biofuel cells extract energy from sweat to power wearable devices

Perovskite solar cells go single crystal

Shape-shifters soak up sunshine

More solar power thanks to titanium

Photosynthesis discovery could help design more efficient artificial solar cells

Saudi Arabia shortlists 25 bidders for major wind plant

First foundations set for Baltic Sea wind farm

Wind energy blows up storm of controversy in Mexico

U.S. extends wind energy taproots into Zambia

Kazakhstan inaugurates IAEA-backed nuclear fuel bank

2018 start for Russia-backed nuclear plant work:

Fukushima operator faces $5 bn US suit over 2011 disaster

UAE nuclear programme edges toward 2018 launch

Study gives first proof that the Earth has a natural thermostat

Incomplete drought recovery may be the new normal

Asian Development Bank finds new climate finance stream

Heat map showcases extreme temperatures in Southern Europe

Uber to resume Philippine service 'soon' after fine

Japan's 'highway doctor' does checkup on ageing roads

Former VW engineer gets 40 months in 'dieselgate' scandal

addressing battery glitch in small number of Chevy Bolts

Iraq fighters take 'victory selfies' at Tal Afar citadel

IS evacuation deal sparks Iraqi outrage

Iraqi forces poised for victory over IS in Tal Afar

Keeping cool in combat: in Iraq the iceman cometh

Trump keeps Iran deal, but threatens more sanctions

S. Korea seeks rare talks with North to ease military tensions

US sending mixed messages on Iran nuclear deal: Zarif

US-China citizen gets 10 years for spying in Iran; 2 Iranians charged in US over hacking

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement