Baku, Azerbaijan, Nov.10
By Fatih Karimov - Trend: The Iranian Oil Ministry has stopped the development of offshore Forouz B gas field in the Persian Gulf.
Abbas Aliabadi, managing director of Iran Power Plant Projects Management Company (MAPNA), said the Oil Ministry had tasked MAPNA with the development of the gas field, but the oil minister has ordered the development project to be halted, Iran's Tasnim news agency reported on November 10.
Although MAPNA has bought a drilling rig to start the development operations, but the Oil Ministry has not the Forouz B development plan on the agenda, he added.
The Oil Ministry has reportedly placed the priority to develop associated gas fields. Forouz B is a non-associated field.
Using natural gas from Forouz B gas field, Iran will be able to produce 3,000 megawatts (MW) of electricity per year and sell $1.5-2 billion worth of electricity to Oman, Qatar, and the UAE.
The field is projected to produce one billion cubic feet of natural gas for generating power after the termination of its first development phase.
In addition, the field will yield a daily total of 10,000 barrels of condensate and 466 tons of sulfur. Forouz B is also expected to produce 1.49 million tons of gas-related liquids per year.