MAPNA Company of Iran signed a contract, worth around €6 billion, with Iranian Offshore Oil Company on Wednesday to develop Forooz B gas field located in the Persian Gulf. -MNA reports
The gas field holds approximately 29 trillion cubic feet of natural gas. It is estimated that the contract to be finalized by the next 6 months.
The produced gas is planned to be used for generating electricity, National Iranian Oil Company's managing director, Ahmad Qalebani, said.
Iran has the world's second largest natural gas reserves after Russia.