BAKU, Azerbaijan, September 15. The development of the Madar gas field in Bushehr Province in southern Iran is expected to play an effective role in addressing the country’s gas shortage, said Hamid Bovard, Iran’s Deputy Oil Minister and Chief Executive Officer of the National Iranian Oil Company (NIOC), Trend reports.
Speaking at a ceremony in Tehran on September 14, held to mark the signing of a contract between Iran’s Mobarakeh Steel Company and the Oil Industries Engineering and Construction Company (OIEC) for the development of the Madar gas field, Bovard noted that preliminary estimates indicate the field’s development will produce around 13 million cubic meters of gas and 40,000 barrels of gas condensate per day.
He added that NIOC aims to develop gas fields in two directions: improving energy efficiency and developing fields with the participation of large industrial plants. He emphasized that the contract with Mobarakeh Steel Company will play a significant role in the country’s economy.
The deputy minister said that development of the Madar field is expected to begin by the end of the year, March 20, 2026.
“In the near future, several similar contracts are expected to be signed with petrochemical companies to develop other gas fields, including the Khartang gas field,” he added.
