MAPNA, NIOOC to ink gas field deal

Iran’s MAPNA is soon to sign a contract with the National Iranian Offshore Oil Company (NIOOC) for the development of Forouz B gas field.

The project aims to use the field's natural gas for generating electricity and subsequently exporting power to neighbouring countries.

The project will be carried out in two phases and the contract related to the first will be signed this week.

Total investment is expected to be about six billion euros with two-thirds of the figure coming from MAPNA and the rest will be loaned by the Oil Ministry.  

The project has been defined as a value chain in which about 2.5 billion euros will be needed for the construction of the power plant and another 2.5 billion euros for the development of the gas field and building a refinery.

The power plant will generate 6,000 megawatts of electricity.

Iran is currently exchanging electricity with Afghanistan, Armenia, Azerbaijan, Iraq, Pakistan, the Republic of Nakhichevan, Turkey and Turkmenistan.