BAKU, Azerbaijan, March 18. A total of $45 million has been invested in the Iranian section of the Bilal gas field, which is jointly owned by Iran and Qatar, Ehsan Mohammadi, the operator of the Bilal gas field development project at Iran's Petropars Company, told reporters, Trend reports.
He said that before the installation of the jacket structure at the Bilal gas field, $30 million was spent, and one exploration well was drilled. The cost for the installation of the jacket structure added an additional $15 million.
The structure was installed on the drilled exploration well.
Mohammadi mentioned that the development of the Bilal gas field has been divided into five work packages.
The first work package involved drilling the exploration well, and the second package was the installation of the structure at the field.
Currently, work is ongoing on the third and fourth packages.
The third package involves the construction of the platform at the field, while the fourth package includes the drilling of wells.
The company official pointed out that a total of eight wells are planned to be drilled at the Bilal gas field. Upon the completion of all work at the field, the country’s gas production will increase by 500 million cubic feet (approximately 14.2 million cubic meters) per day, along with 10,000 barrels of gas condensate.
The Bilal gas field, a joint venture between Iran and Qatar, is located 40 km east of the South Pars gas field. Iran conducted exploration operations at this gas field in 2003. The field is reported to contain approximately 2.7 trillion cubic feet (about 76.5 billion cubic meters) of gas.
In 2019, a contract was signed between Pars Oil and Gas Company and Petropars Company for the development of this field. A total of over $500 million will be spent on this project.