BAKU, Azerbaijan, May 16. The National Iranian Oil Company (NIOC) signed memorandums of understanding with eight Iranian petrochemical companies worth about $3 billion in the oil and gas sector on May 15, 2022, Trend reports citing Shana News Agency.
According to the report, the Persian Gulf Petrochemical Industries Company will conduct research on the development of the Marun oil field and the collection of gas extracted jointly with oil from the Darkhovin oil field, and the oil fields in west of Karun rivers.
Also, Iran’s Bakhtar Group Company, Pars Petro Zagros and Petro Farhang Company will conduct research on the development of the Gordan, Khartang and Pazen gas fields.
In addition, the National Iranian Oil Engineering and Construction Company and the National Iranian Oil Industry Pension Fund, the Oil and Energy Industries Development Company (OEID) will conduct research on the gas reservoir of the Galeh-Nar oil field and the development of the Azar oil field.
At the same time, Palayesh Parsian Sepehr Company will conduct research to increase ethane production at 9 refineries of Iran’s South Pars Gas Company (SPGC).
If positive results are obtained from the researches, certain contracts will be signed. As a result, the country's crude oil extraction capacity will increase by 37,000 barrels per day, gas extraction capacity by 54 million cubic meters per day, and gas condensate extraction capacity by 50,000 barrels per day.
As well as daily 105 million cubic feet (about 2.97 million cubic meters) of gas extracted jointly with oil will be collected, and ethane production at South Pars Gas Company's refineries will increase by 1 million tons per year.
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