BAKU, Azerbaijan, June 1. The National Iranian South Oil Company (NISOC) is conducting discussions with the country's local petrochemical companies for the purpose of developing its gas fields, CEO of the NISOC Alireza Daneshi told reporters, Trend reports.
The CEO noted that the result of the discussions is expected to be announced within the next 3 months.
According to Daneshi, the National Iranian South Oil Company has 16 gas fields that can be developed. Approximately $6 billion should be spent on these fields. Of this, $4.5 billion should be spent directly, while $1.5 billion should be spent on related expenses.
“By spending the mentioned money, 1.28 billion cubic feet (about 36.2 million cubic meters) of rich gas, 1.24 billion cubic feet (about 35 million cubic meters) of light gas, and 94,000 barrels of gas condensate can be produced from the company’s 16 gas fields per day,” he said.
Daneshi also added that Iran's petrochemical companies can be provided with additional fuel with the hydrocarbons produced from 16 gas fields. As a result, an additional 94,000 barrels of naphtha and 91,000 tons of ethane plus can be produced daily.
The National Iranian South Oil Company, a subordinate of the National Iranian Oil Company, operates 45 large and small hydrocarbon deposits in an area of 400,000 square kilometers from Iran's Bushehr Province to the north of Khuzestan Province.
The company extracts about 80 percent of Iran's crude oil and 16 percent of its gas.
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