BAKU, Azerbaijan, February 11. Iran's Maroun Oil and Gas Production Company (MOGPC) has started collecting around 10 million cubic feet (about 283,000 cubic meters) of flared gas daily at its No. 5 plant, the National Iranian South Oil Company (NISOC) managing director, Ebrahim Piramoun, told reporters, Trend reports.
According to Piramoun, this initiative will not only reduce the amount of flared gas but also save the oil industry approximately $5 million annually, in addition to benefiting the investor’s returns.
Piramoun also mentioned that the plant has the capacity to collect up to 20 million cubic feet (about 566,000 cubic meters) of flared gas daily, with 40 employees working at the facility.
He noted that due to years of effort and work, the volume of flared gas at the Maroun Oil and Gas Production Company's No. 5 plant has now been reduced to its minimum possible level.
Additionally, Piramoun confirmed that the "Hybrid Niru" company has invested $6 million in this plant’s operations.
To note, the Maroun Oil and Gas Production Company, operating within the National Company “Southern Oil Zones” of Iran, runs 404 oil wells. This company's production is 562,000 barrels per day. About 360,000 barrels of it are transported to Isfahan Refining Company and the rest (202,000 barrels) to Kharg Island.
The company produces 570 million cubic feet (about 16.1 million cubic meters) of gas daily, 25,000 barrels of liquefied gas, and 7,000 barrels of gas condensate produced together with oil.