BAKU, Azerbaijan, February 8. A total of $180 million is expected to be invested in the development of the Babagir gas field in Kermanshah province, located in the west of Iran, Executive Director of Iran’s Central Oil Fields Company (ICOFC), Mehdi Heydari said, Trend reports.
The director said that 10 wells will be dug in the field, which will produce 7 million cubic meters of gas per day.
He also revealed that the first well will be drilled in the near future, and that a drilling rig has been set up in the field.
According to Heydari, the drilling process is expected to last for 5 months. The field is estimated to have 90 billion cubic meters of gas reserves.
Babagir gas field is located near Gilan-e Gharb city of Kermanshah Province, Iran. The first discovery well was drilled in this field in 1974.
Iran stands second in the world for gas reserves, with about 34 trillion cubic meters of gas. The county's gas production capacity is currently more than 1 billion cubic meters per day.
On average, Iran currently produces about 259 billion cubic meters of gas annually and more than 800 million cubic meters daily.
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