Iran launches further gas/condensate development

Offshore staff

TEHRAN – Mapna Group has signed a development contract for the Forouz B gas field in the Persian Gulf with National Iranian Offshore Oil Co.

According to Iranian new service Shana, the field has in-place reserves of 28 tcf and 180 MMbbl of gas condensate. The gas will be used to generate electricity.

The aim is to extract 1 bcf and 10,000 b/d under the first development phase, and to produce 1,490 Mmt of gas liquids/yr and 466 t/d of sulfur.

The project will require $3.8 billion of investment over a five-year period.

3/1/2012

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