VIP:1级
Location: Persian Gulf, between Iran-Qatar marine border
Value: US$6 billion
Reserves: 7 billion barrels of oil
Production: 55-65,000 bpd (forecasted)
Production: 25,000 bpd (current)
Start-up Year: March 2016
The South Pars Oil Layer (SPOL) was discovered in 1992 and is shared with Qatar, where the gas asset is known as the North Field and the oil layer is called the Al Shaheen.
The Oil layer is a series of Cretaceous reservoirs located about 130 km from Asaluyeh coastline and positioned above the deep Permian Dalan gas reservoirs of the South Pars gas field. The development is technically challenging due to its thin target thickness of reservoirs, ranging from 1.5 - 7.5m, and the field's large areal extent. The SPOL is estimated to contain 7 billion barrels of oil, with an API of 21 and recovery rate of 10%, which can be increased to 35% by adopting EOR and IOR techniques.
The field is divided into four separated sections: A1, A2 (13.2588 sq. km), B (25.1738 sq. km), C (20.0688 sq. km). 
Phase 1 of the field is the development of A2 section, which has had nine wells drilled connected to Iran’s first FPSO Cyrus. Phase 1 has been forecasted to produce 30,000 bpd of oil on average.
Phase 2 development includes appraisal program for sections A1, B and C. At present, there are two wells drilled in section C and one in section B. The second phase could increase the field’s capacity to 60,000-100,000 bpd.
based on long-term plan, Iran targets to extract 200,000 barrels of crude oil from the South Pars oil layer in the next 20 years. At least 300 wells will have to be drilled in order to achieve this. The project has been under development for at least 15 years headed up by PetroIran Development Company (Pedco), a local offshore contractor and subsidiary of NIOC.
Iran exported the first cargo of 700,000 barrels of oil from the South Pars oil layer in May 2017.
Operator:
The National Iranian South Oil Co. (NISOC) (subsidiary of National Iranian Oil Company)