Iran's POGC, Petropars Ink $440mn Gas Deal: Shana
Pars Oil and Gas Company (POGC), a subsidiary of state-owned National Iranian Oil Company (NIOC), has signed a $440mn deal with Petropars Company for developing Belal gas field in the Persian Gulf, Shana News Agency reported September 14.
As per the deal, the aim is to produce 500mn ft3/day of gas within three years. The produced gas will be processed at the onshore refinery of South Pars Phase 12, Shana said. POGC will carry out reservoir studies and arrange sideline licensing rounds for the purposes of the project.
Petropars will drill eight wells in the field, launch wellhead jackets and build and install a topside with 500mn ft3/d of gas production capacity as well as a seabed pipeline with an estimated length of 20-km, Shana reported.
Belal gas field is located east of South Pars in the Persian Gulf and 90 km southwest of Lavan Island.