Iranian MAPNA invests €6b to develop Forooz B gas field
Azerbaijan , Baku, April 21 /Trend, D.Khatinoglu /
MAPNA Company of Iran signed a contract, worth around €6 billion, with Iranian Offshore Oil Company on Wednesday to develop Forooz B gas field located in the Persian Gulf, reported Mehr News Agency.
The gas field holds approximately 29 trillion cubic feet of natural gas. It is estimated that the contract to be finalized by the next 6 months.
The produced gas is planned to be used for generating electricity, National Iranian Oil Company's managing director, Ahmad Qalebani, said.
Iran ranked the second, yielding to Russia, in the world for its largest natural gas reserves. Based on BP statistics for 2009, Iran's natural gas reserves reached 1.045.7 trillion cubic feet (29.61 trillion cubic meters).
Iranian Oil Minister Masoud Mir Kazemi earlier reported that Iran's natural gas reserves increased to 33 trillion cubic meters, the Mehr News Agency reported.