BAKU, Azerbaijan, June 11. The development of the Kish gas field in the southern Iran's Hormuzgan Province can play an effective role in reducing the country's gas deficit, Iranian Oil Minister Mohsen Paknejad told reporters on the sidelines of a meeting of the Cabinet of Ministers in Tehran today, Trend reports.
According to him, the Kish gas field has gas reserves equivalent to the four phases of the South Pars gas field (approximately 20 billion cubic meters).
Paknejad said that various proposals have been submitted to the National Iranian Oil Company for the development of the Kish gas field by the local private sector, and after examining these proposals, the name of the private sector company for signing the contract will be announced.
Iranian Pars Oil and Gas Company and Iranian Offshore Engineering and Construction Company signed an agreement on February 4, 2023, to develop Phase 1 of the Kish gas field in the Persian Gulf in the province of Hormozgan in southern Iran. Under the contract, $900 million will be spent, and 14 wells will be drilled and completed by the National Drilling Company. With the completion of work within 14 months, 28 million cubic meters of gas and 11,000 barrels of gas condensate will be produced daily from this field, which will be transported to processing plants in the Asalouyeh area.
Iran's gas production potential is reported to be over one billion cubic meters per day. Iran experiences gas shortages due to high consumption during the winter season.
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