Iran to start drilling at Forouz B gas field by March

Business Materials 24 December 2012 12:43 (UTC +04:00)

Azerbaijan, Baku, Dec. 24/ Trend G.Mehdi/

Iran will start drilling operations at the Forouz B gas field located in the Persian Gulf, by the end of the current Iranian calendar year (March 20, 2013), IRNA quoted Iran's Power Projects Management Company (MAPNA) managing director Abbas Aliabadi as saying.

The project aims to generate electricity from natural gas, he added.

On February 21, the Iran Offshore Oil Company (IOOC) struck a $3.8 billion deal with MAPNA for the development of the Forouz B gas field and an associated gas-fired power project.
Aliabadi stated that the field holds around 28 trillion cubic feet of in situ natural gas and 180 million barrels of gas condensates.

He added that the development plan which is set for completion within five and a half years, aims to produce one billion cubic feet of gas, 10,000 barrels of condensates and 3000 megawatts/per day of power in the first phase.