BAKU, Azerbaijan, May 12. Iranian Central Oil Fields Company (ICOFC) has created great investment opportunities for investors to develop its oil and gas fields, Executive Director of the ICOFC Mehdi Heydari said, Trend reports citing the company’s website.
The director said that the focus is on the development of new oil and gas fields on the company's territory.
According to Heydari, in this regard, the company presents various oil and gas projects to investors.
“At present, the company is taking a number of steps to develop the Tus gas field, as well as continues the construction of the second phase of Shourijeh D underground gas storage,” he added.
The official noted that these two projects are considered strategic projects of the ICOFC. With the implementation of these projects, there will be an opportunity for a sustainable gas supply in the north-east of Iran.
The Iranian Central Oil Fields Company has 84 oil and gas fields in 11 provinces of Iran. So far, 13 gas fields and 13 oil fields have been developed.
At present, the ICOFC has capacity to extract about 250,000 barrels of crude oil and 250 million cubic meters of gas per day.
On March 31, 2022, Iran has launched operations on the second phase of the Shourijeh D underground gas storage facility in the Razavi Khorasan Province (north-eastern Iran). The operations will be completed in three years and the second phase will be used for 20 years.
Upon completion of work at the second phase, the storage capacity of the Shourijeh D underground gas storage facility will increase from 2.25 billion cubic meters to 4.5 billion cubic meters
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