BAKU, Azerbaijan, August 17. Iran will generate $700 million in annual revenue from the NGL-3100 flare gas processing plant commissioned today, Iranian Oil Minister Mohsen Paknejad said at an event organized in connection with its commissioning, Trend reports.
As per his assertion, an aggregate expenditure of $1.6 billion
was allocated towards the NGL-3100 facility situated in the Ilam
province, positioned in the western region of the nation.
Upon the operationalization of the facility, eight combustion
flares were successfully deactivated, thereby mitigating the
incineration of gas concomitant with hydrocarbon extraction.
Paknejad said that this plant will produce 1,050 tons of C2+ (ethane and heavier products), 132 tons of sulfur, 850,000 barrels of gas condensate per day, and 4.3 million cubic meters of sweet gas per year.
The sweet gas will be supplied to the country's gas network for consumption.
The minister added that 85 percent of the plant equipment was provided by local production, and the plant has provided jobs to 1,500 people.
To note, the NGL-3100 plant has the potential to process 240 million cubic feet (about 6.8 million cubic meters) of flare gas per day. It will process flare gas produced along with crude oil from Iran's eight oil fields.
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