NIOC, Petropars Ink $1.78bn Deal to Develop Farzad B Gas Field

Date: 17 May 2021 - 21:59

News ID: ۹۰۳۰۷

TEHRAN (Dispatches) - CEO of National Iranian Oil Company Masoud Karbasian on Monday announced that the NIOC signed a deal worth 1.78 billion dollars with the Petropars Oilfield Services Company to develop Farzad B gas field in the South Pars/North Dome field.
On the occasion of the signing ceremony, Karbasian said that the contract is considered the final stage of developing joint gas fields with Qatar.
According to the official, the development project will be financed with money from bonds.
He went on to say that 17 phases of the South Pars Gas Field became operational within the previous eight years, noting that gas production from the gas field increased from 285 million cubic meters per day to more than 720 million cubic meters per day.
The deputy oil minister further noted that eight contracts have been signed to develop joint oil fields with Qatar, saying that two other contracts are going to be inked following approval by Iran’s High Economic Coordination Council.
Karbasian added that the exploitation of oil fields increased 5.7 times in the last eight years, in particular in western Karun fields.
Petropars was established to develop energy resources of Iran and took responsibility for the development of the first phase of the South Pars Gas Field.
Iran to Begin Crude Oil
Delivery From Goreh to Jask

The CEO of the Petroleum Engineering and Development Company (PEDEC) announced the start of sending 300,000 barrels per day of crude oil from Goreh to Jask in the coming days.
According to Petroleum Engineering and Development Company (PEDEC), Touraj Dehghani, while visiting and reviewing the construction project of the Goreh-Jask strategic pipeline, announced the news: “All the parties involved in the project are operating round-the-clock and are trying to launch the first phase of this strategic plan. The Pump House No. 2, which is dubbed as the beating heart of the first phase of the project, will be completed and launched in the next few days.”
He stated that in the coming days, oil will be injected to the pipeline and transferred to the next areas through Pump House No. 2.
The CEO of the Petroleum Engineering and Development Company underlined the 90% progress of Pump House No. 2, adding: “Currently, 300 to 330 thousand barrels of crude oil per day can be sent by four electric pumps of this pump house.”