Tehran, Iran, Aug. 22
By Milad Fashtami - Trend:
National Iranian Oil Company and the contractor of Forouz B gas field's development plan were supposed to hold a meeting to decide about the future of the project last month, but as Iran's ISNA News Agency reports the meeting has been delayed several times.
The $ 3.8 billion project was started over three years ago.
Abbas Aliabadi, managing director of Iran Power Plant Projects Management Company (MAPNA), said that some 500 million euros have been saved in the bank for the project's costs.
As ISNA reports, Iranian Oil Minister Bijan Namdar Zangane has put the priority on development of joint oil fields and in general, he is not in favor of burning gas to generate electricity.
Iran's Fars news agency reported on June 30 that development of Iran's offshore Forouz B gas field in the Persian Gulf has been halted. Abbas Aliabadi said drilling operations in the gas field stopped three months ago.
"Every day of delay incurs losses to the company, he said, adding that there is no problem in the development of the gas field," but the Oil Ministry has placed the priority on the development of joint oil and gas fields.
Using natural gas from Forouz B gas field, Iran will be able to produce 3,000 megawatts of electricity per year and sell $1.5 billion -$ 2 billion worth of electricity to Oman, Qatar, and the UAE.
The field is projected to produce one billion cubic feet of natural gas for generating power after the termination of its first development phase.
In addition, the field will yield a daily total of 10,000 barrels of condensate and 466 tons of sulfur. Forouz B is also expected to produce 1.49 million tons of gas-related liquids per year.
Tehran, Iran, Aug. 22
By Milad Fashtami - Trend:
National Iranian Oil Company and the contractor of Forouz B gas field's development plan were supposed to hold a meeting to decide about the future of the project last month, but as Iran's ISNA News Agency reports the meeting has been delayed several times.
The $ 3.8 billion project was started over three years ago.
Abbas Aliabadi, managing director of Iran Power Plant Projects Management Company (MAPNA), said that some 500 million euros have been saved in the bank for the project's costs.
As ISNA reports, Iranian Oil Minister Bijan Namdar Zangane has put the priority on development of joint oil fields and in general, he is not in favor of burning gas to generate electricity.
Iran's Fars news agency reported on June 30 that development of Iran's offshore Forouz B gas field in the Persian Gulf has been halted. Abbas Aliabadi said drilling operations in the gas field stopped three months ago.
"Every day of delay incurs losses to the company, he said, adding that there is no problem in the development of the gas field," but the Oil Ministry has placed the priority on the development of joint oil and gas fields.
Using natural gas from Forouz B gas field, Iran will be able to produce 3,000 megawatts of electricity per year and sell $1.5 billion -$ 2 billion worth of electricity to Oman, Qatar, and the UAE.
The field is projected to produce one billion cubic feet of natural gas for generating power after the termination of its first development phase.
In addition, the field will yield a daily total of 10,000 barrels of condensate and 466 tons of sulfur. Forouz B is also expected to produce 1.49 million tons of gas-related liquids per year.