Iran to start developing a large new gas field

The contract for the development of the first phase of the «Kish» gas field is between the Iranian Marine Engineering and Construction Company (IOEC) and the Pars Oil and Gas Company (POGC).

The contract for the development of the gas field is $900 million. The term of its implementation is 14 months. In addition to representatives of IOEC and POGC companies, the event was attended by Iranian Oil Minister Javad Ovji and the head of the Iranian National Oil Corporation (NIOC) Mohsen Khojasteh. The development plan for the Kish gas field will be implemented in four stages.

The project is currently the largest gas project in Iran after South Pars. The National Drilling Company of Iran (NIDC) will construct 14 wells, and IOEC will have to lay a 200-kilometer 32-inch underwater pipeline from the field to the city of Asaluye in Bushir province, where the refineries are located.

It is expected that the volume of production will be 28.3 million cubic meters of crude gas and 11.3 thousand barrels of gas condensate per day. The reserves of the «Kish» deposit are estimated at 56 trillion cubic feet. If it is fully developed, gas production will amount to 120 million cubic meters per day.