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    Iran's COFC's Gas Output to Hit 90 bcm

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Summary

Iran’s Central Oil Fields Company’s (ICOFC) annual gas production will touch 90 billion cubic meters (bcm) at the end of current Iranian calendar year.

by: shardul

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Asia/Oceania

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Iran's COFC's Gas Output to Hit 90 bcm

Iran’s Central Oil Fields Company’s (ICOFC) annual gas production will touch 90 billion cubic meters (bcm) at the end of current Iranian calendar year (ends on 20 March 2014), the company said.

The total gas produced would be valued at $42 billion. ICOFC meets almost half of Iran’s gas needs.

According to Salbali Karimi, managing director of ICOFC, company’s daily production hit record high of 306 mcm, more than the target set by the firm.  

ICOFC is one of the five subsidiaries of NIOC. It is is in charge of 46 gas fields and 27 oil fields of which 10 oil fields and 14 gas fields are on stream and the remaining fields are under development.

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