Iran says it pulled its first batch of oil ever out of the South Pars field complex in the Persian Gulf. Photo by Mojtaba Mohseni/Shana March 20 (UPI) — The production of oil from the South Pars field complex in the Persian Gulf has started for the first time, the Iranian Oil Ministry declared. Shana, the Oil Ministry’s news website, reported production from seven oil wells in the South Pars complex began and should reach a net peak capacity of 35,000 per day in about a week. The oil ministry estimates the field, which Iran shares with Qatar, holds more than 14 billion barrels of oil. Gholam-Reza Manouchehri, the deputy managing director at the National Iranian Oil Co., was quoted by Shana as saying production was made possible through a floating production storage and offloading vessel, or FPSO. “By the time the FPSO recovers and processes a certain amount […]