Baku, Azerbaijan, May 27
By Fatih Karimov - Trend:
Iran will invest $11 billion to collect associated petroleum gases and establish natural gas liquid (NGL) plants.
Moshtaq-Ali Gohari, Director for Combined Planning at National Iranian Oil Company, said currently 187 million cubic meters of associated petroleum gases are being collected per day, Iran's Fars news agency reported on May 27.
Associated gases can bring benefits for the country, but they are flared up and burden the nation with huge losses instead, he added.
The construction of a NGL production plant in Iran's southern Kharg island has progressed by 75 percent in the offshore section and 43 percent in the onshore section, he noted.
The project aims to collect 620 million cubic feet of oil associate gases per day. Some €1.5 billion will be invested in the project, he said, adding that $700 million has been invested so far.
In February 2013, Iran inaugurated its largest associated petroleum gas plant in the Persian Gulf, built on the southern island of Siri to produce condensate and gather associated gas.
Some 40 million cubic meters of associated gas in oilfields are burnt daily.