Tehran, Iran, April 18
By Mehdi Sepahvand - Trend:
A contract was signed today to produce FLNG (Floating liquefied natural gas) from flare gas so far burned at Foruzan field in southern Iran.
The contract was signed between Iran Offshore Oil Company (IOOC) and Nogam Oil and Gas Company, a subsidiary of Bank Mellat, SHANA news agency reported April 18.
The contract's term is seven years, that is, the FLNG unit will be operational in two years and then will be used for five years.
IOOC CEO Said Hafezi said 5.7 mcm/d of gas is burned at the field.