Iran's offshore platform sinks during installation

The second offshore platform of the phase 13 of Iran's South Pars gas field has drowned today while being installed, the Fars News Agency reported.

Some $40 million had been spent to build the platform over the course of 30 months.

The phase 13 of the South Pars field is projected to yield 50 million cubic meters of gas, 80,000 barrels of gas condensates, 2900 tons of LPG, and 400 tons of sulfur per day.

In June 2012, Oil Minister Rostam Qasemi ordered an investment of more than $26 billion in development projects in the South Pars gas field for the current Iranian calendar year which started on March 20, 2012.

Pars Oil and Gas Company financial director Touraj Jahanara made the announcement in an interview with the Shana news agency.

Last year, around $20 billion was allocated for the purpose, Jahanara added.

He said the highest investments last year were made in the phases 12, 22-24, and 13 of the South Pars.




/Trend/