French company opts for producing LNG in Iran
Baku, Azerbaijan, Aug. 17
By Fatih Karimov - Trend:
A French company expressed its readiness to involve in Iran's LNG projects.
The company is keen to gather and buy the flaring associated gas of Forouzan oil field and produce LNG, Iran's Fars News Agency quoted a report broadcasted from state TV Aug.17, without naming the French company.
Bizhan Namdar Zanganeh said that a company would buy a part of flare gases in Gulf and almost 25 percent of the flare gases in the Gulf would be collected after commencing this project.
According to the U.S. Energy information Administration's estimates Iran's flaring gas is around 17 billion cubic meters per annum (bcm/a). However, Fars reported that the flaring associated gas of about 50 oil fields in Iran is around 7.3 bcm/a.
Before, Mansur Rad, the managing director in charge of investments in the National Iranian Oil Company confirmed two months ago the reception of such offers from private companies, Fars reported.
The Forouzan oil field is located 100 kilometers southwest of Kharg Island. It was discovered in 1966 with estimated in-place reserve of 2.309 billion barrels of crude oil. The field is known as Marjan in Saudi Arabia.
Ebrahim Delavaran Shiraz, the project manager of development plan of Forouzan, said in November 2014 that Iran will double its output at the this field by March 2016.
"The Forouzan oilfield production is expected to reach 10,000 barrels per day in the near future," he said, adding that once the platforms become operational, the field's output will be doubled.
The development of the oilfield aims to increase its gas output to 7 million cubic meters per day and extract more than 300 million barrels of crude oil in the next 25 years.
Edited by CN