BAKU, Azerbaijan, April 30. Iran's Masjed Soleyman Petrochemical Company and Petroiran Development Company will invest $1.8 billion to increase production from three 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.
Iran's Masjed Soleyman Petrochemical Company and Petroiran Development signed a memorandum of understanding with the National Oil Company.
According to the memorandum of understanding, research will be conducted to increase production from Shahedan, Zilayi, and Karoon reservoirs by 11.6 million cubic meters 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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