Iran likely give up SP oil layer to Qatar
The oil inspection affairs department of the General Inspection Organization of Iran has reported that Iran is currently extracting less than 35,000 barrels of crude oil from the South Pars gas field's oil layer, while the Qatari side is exploiting as much as 450,000 barrels per day. The South Pars gas field is associated between Iran and Qatar. It holds around 30 trillion cubic meters of natural gas. It has an oil layer with an estimated reserve of 1.6 billion barrels with 30.3 deg. API with 1.9 percent sulphur. According to studies in 2005, the oil layer is divided into two sections, but the National Iranian Oil Company's exploration department rejected the theory in 2010 using existing geophysical surveys. The oil layer is jointly owned by Iran and Qatar. The 13-fold exploitation of Qatar compared to Iran from the oil layer means that reserves in the Iranian side will be flowing down into the southern section in Qatar in the long run. Maersk Oil Qatar AS Compa