BAKU, Azerbaijan, January 14. Iran’s Central Oil Zones Company (ICOFC) is working on an emergency action plan to boost gas production, said Peyman Imani, an official of the company, Trend reports.
According to him, the plan includes developing 11 gas fields, upgrading Farashband gas processing plant, and setting up Sarkhun and Shanol pressure boosting stations.
Imani added that the plan will cost $3.63 billion and involve drilling 121 wells. He also said that the plan will increase the country’s gas and gas condensate output by 149 million cubic meters and 105,000 barrels, respectively.
The ICOFC has 84 oil and gas fields in 11 provinces of Iran, of which 13 gas fields and 13 oil fields have been developed. The ICOFC can produce about 250,000 barrels of crude oil and 250 million cubic meters of gas per day.
The company produced a total of 17.4 million barrels of crude oil, 64.3 billion cubic meters of gas and 15.7 million barrels of gas condensate in the last Iranian year (March 21, 2022 through March 20, 2023).
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