BAKU, Azerbaijan, April 30. Iran's Tamin Petroleum & Petrochemical Investment Co. (TAPPICO) will invest $950 million to develop four gas fields, Trend reports.
Memorandums of Understanding were signed today (April 30) in Tehran to develop several gas fields. Iran's Oil Minister Javad Owji, Deputy Oil Minister and Executive Director of the National Oil Company Mohsun Khojastmehr, Deputy Oil Minister and Executive Director of the National Petrochemical Company Morteza Shahmirzaei, and other officials attended an event.
Iranian oil, gas, and petrochemical investment company Tamin has signed a memorandum of understanding with the National Oil Company of Iran to develop the Milatun, Roudak, Binak, and Ragh Sefid gas fields.
According to the Memorandum of Understanding, research will be conducted to increase production at the fields under consideration by 7.7 million cubic meters of gas per day.
Meanwhile, a memorandum of understanding worth $6.4 billion was signed in Tehran on April 30 between Iran's National Gas Company and local companies to increase gas production by 127 million cubic meters per day.
To note, Iran is considered the world's second-largest gas reserve country, with gas reserves of about 34 trillion cubic meters. Presently, 22 gas fields are operating in Iran. Iran produces 1.07 billion cubic meters of rich gas daily from its gas fields.
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