Azerbaijan, Baku, Feb. 21/ Trend F.Milad/
A €6 billion deal will be signed today between the Iran Offshore Oil Company (IOOC) and Iran's power projects management company (MAPNA) to develop the Forouz B gas field in the Persian Gulf and generate electricity from the production of natural gas, the MAPNA managing director said.
Shana news agency quoted Abbas Aliabadi as saying that the field holds around 28 trillion cubic feet of in-situ natural gas reserves.
The development plan is aimed at producing one billion cubic feet of gas and generate 3000 megawatts of electricity per day in the first phase, he noted.
Mr Aliabadi said earlier that the project aims to use the field's natural gas for generating electricity and subsequently exporting power to neighboring countries, Press TV reported.
The National Iranian Oil Company announced in November that 20 contracts will be signed by the end of the current Iranian calendar year (March 19, 2012) to develop joint oilfields.
Oil Minister Rostam Qasemi said in August 2011 that the oil industry's infrastructure needs more than 500 trillion rials (about $41 billion) of investment to achieve the goals of the country's 20-Year Economic Outlook Plan (to end in 2025).