BAKU, Azerbaijan, November 28. The National Iranian South Oilfields Company (NISOC) is working to collect 920 million cubic feet (about 26 million cubic meters) of flare gas every day, the executive director of NISOC Ibrahim Piramoun said, Trend reports.
According to him, by the end of the current Iranian year (March 20, 2025), 70 million cubic feet (about 1.98 million cubic meters) of flare gas will be collected at the NISOC. In this regard, the 45 million cubic feet (about 1.27 million cubic meters) capacity Gachsaran-2 and 25 million cubic feet (about 708,000 cubic meters) capacity Gachsaran-4 will be put into operation.
Piramoun stated that an agreement has been signed with Marun Petrochemical Company within eight projects to collect 250 million cubic feet (about 7.08 million cubic meters) of flared gas in Marun and Ahvaz areas in the NISOC until 2026. Work is underway on these projects.
He added that an agreement has been signed with Persian Gulf Bid-Boland Gas Processing Company to collect 600 million cubic feet (about 17 million cubic meters) of flare gas from the NISOC until March 20, 2028. Work has commenced in this regard.
The National Iranian South Oilfields Company, affiliated to the National Oil Company of Iran, owns 45 large and small hydrocarbon fields in an area of 400,000 square kilometers from Iran's Bushehr Province to the north of Khuzestan Province. It produces about 80 percent of Iran's crude oil and 16 percent of gas.
Note that Iran's total hydrocarbon reserves amount to 1.2 trillion barrels. Iran can produce 340 billion barrels of this gas with existing technological equipment. Iran can utilize about 30 percent, and 70 percent remains unutilized underground.