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09/11/11

Iran to install biggest Persian Gulf oil platform

Source: Press TV

Iran's oil officials have said the country's experts will install the biggest oil exploitation platform in the Persian Gulf next week. The platform P4 in Reshadat oilfield has been ordered by the Falat Qarreh oil company and built by the Iranian experts, IRNA reported Saturday.


An Iranian oil platform in the Persian Gulf
(file photo)

The Reshadat oil field, where the structure will be launched, lies 110 kilometers southwest of Lavan Island.

"The P4 platform in the Reshadat oil has a weight of 3100 tons, which will increase to 4500 tons following the installation of stabilizing pillars," CEO of one of the companies involved in the project Amin Panahi said, adding that a structure weighing 9,000 tons would be installed on the platform.

He said that once the platform becomes operational it would increase Iran's total oil production by 75,000 barrels per day.

Recently, Managing Director of National Iranian Oil Company Ahmad Qalebani announced that Iran's oil exports have increased by 50,000 barrels per day since the beginning of the current Iranian calendar year (started March 21).

He noted that more than 60 percent of the necessary equipment for the oil industry is produced domestically and that the percentage will reach 90 within the next three years.

Iran has the world's second largest crude oil reserves after Saudi Arabia and the second largest gas reserves after Russia.

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