Oil Ministry to Earmark $4.5bn for Fars Upstream Gas Sector

Date: 15 October 2021 - 21:38

News ID: ۹۵۴۴۹

FARS – Iranian Minister of Petroleum Javad Owji said plans are underway to invest $4.5 billion for the development of the upstream gas sector in the southern province of Fars.
Speaking during his 5th provincial visit to Fars province on Thursday, Owji said, “Fars, the second holder of gas reserves in the country after Bushehr Province, has a daily production capacity of 114 million cubic meters of natural gas, most of which in the southwestern basin that includes the areas of Agar and Dalan, Tabnak, Shanol, Varavi and Homa.”
Emphasizing that no investment has been made in the upstream and downstream sectors of gas fields and refineries in recent years, he said: “The ministry of petroleum plans to invest in the upstream gas sector, including the development plan for phase 11 of the South Pars joint gas field, Agar and Dalan, Shanol, Tabnak, Homa and Varavi fields, increasing pressure and developing new gas fields and use empty daily capacity of 140 million cubic meters of gas refineries.”
Referring to the existence of 13 gas fields in Fars province, of which 6 fields have been developed so far and seven other fields are still not on the development agenda, the Minister of Petroleum added: “With the development of new fields, 110 million cubic meters will be added to the province’s gas production capacity.”
He added: “Development of the second phase of Farashband gas refinery is on the agenda and we promise that within the next three to four years, the daily natural gas production capacity of Agar Field will increase by 20 million cubic meters in the second phase and the production capacity of Farashband Refinery will be boosted from currently 42 million cubic meters to 65 mcm/d.”