Tehran, Iran, Apr. 21
By Mehdi Sepahvand – Trend:
Iranian investment company Ghadir has signed an agreement with the National Iranian Oil Company (NIOC) for the development of four oil and gas fields.
The fields are Kish, Sepehr, Jafir, and Darkhovein’s third phase, IRIB news agency reported April 19.
Speaking on the sidelines of the agreement signing ceremony, NIOC’s director of development and engineering Gholamreza Manuchehri said Ghadir is expected to finish the related studies on the fields in six months and after that provide a fund of $10 billion for their development.
Sepehr, a West Karoon field holds 2 billion barrels of oil, 200 to 300 million of which is extractable.
Jafir’s development is aimed at extracting 25,000 bpd of crude.
Darkhovein’s third phase aims at production of 110,000 bpd of crude and 210 mcmpd of gas.
Kish is expected to yield 1 billion cubic feet per day of gas, to be used domestically, and 11,300 bpd of gas condensate set for export.
Ghadir Investment Company was established in 1991. Ghadir is one of the biggest holding investment companies on the Tehran Stock Exchange (TSE).