BAKU, Azerbaijan, May 16
By Elnur Baghishov – Trend:
The National Iranian Oil Company (NIOC) and the Petropars Operation and Management Company (POMC) will sign a contract on the development of the Farzad B gas field tomorrow on May 17, Trend reports citing the NIOC’s website.
The goal of signing the contract is to achieve the extraction of daily 28 million cubic meters of sour gas for 5 years.
The value of the contract to be signed between the two companies is $1.78 billion.
According to the contract, 8 wells will be drilled in the field, 2 platforms will be installed, a 36-inch pipeline with a length of about 230 km will be laid and other work will be carried out.
Gas extracted from the Farzad B gas field will be transported to the Kangan point in the Bushehr Province (southern Iran) for primary refining. Gas condensate will be refined from sour gas at the Kangan point and then transported to South Pars Gas Company's 12th and 19th refineries for further refining.
The full implementation of the plan under the contract will lead to an increase in Iran's gas extraction potential and employment.
Reportedly, Iranian Oil Minister Bijan Zanganeh and other officials will attend the signing ceremony.
Iran's Farzad B gas field is a joint gas field with Saudi Arabia. As reported, the gas field contains 614 billion cubic meters of gas and of which 60 percent can be extracted.