Iran exports about 310,000 bpd of condensate now
Iran's condensate exports to nearly double by 2017
SINGAPORE, November 12, 2015
Iran's condensate surplus available for exports is expected to hit a maximum of 600,000 barrels per day (bpd) in 2017, nearly double the current level, an official at a subsidiary of state-owned National Iranian Oil Company (NIOC) said.
The nation's condensate production now stands at 550,000 bpd, of which 240,000 bpd is consumed domestically and 310,000 bpd is exported, Hamid Akbary, project director of South Pars Gas Field Development Phase 12 at Petropars Ltd, said at an event in Singapore.
Exports of condensate, a light form of crude oil produced in association with natural gas, would begin to decline in 2018, if planned refinery projects, including the Persian Gulf Star, Shiraz and Siraf are completed on time, Akbary said.
Iran aims to process slightly more than 1 million barrels per day of condensate domestically by 2020, he said.
Of Iran's current condensate production, some 90 percent comes from the giant South Pars field. The offshore field will be fully developed by 2020, producing about 1.25 million barrels per day, Akbary said. --Reuters
