Iranian state-owned NIOC has signed an agreement with Russia’s state-controlled Gazprom covering co-operation on the development of three major gas assets.
As part of the deal, the firms will work together on the 55 trillion ft³ (1.6 trillion m³) Kish and the 57.1 trillion ft³ North Pars fields, and to boost pressure levels at the supergiant South Pars field, all in the Mideast Gulf.
The companies estimated the investment required for the former two projects at around $10bn, and for South Pars at $15bn.
Khojasteh-Mehr said these projects are envisaged to produce upwards of 100mn m³/d of gas combined, around 14pc of Iran’s current output.
At South Pars, one of Iran’s key upstream assets, Gazprom will build compression facilities that Tehran views as critical to the field’s future but to which it does not having access.
Beyond the upstream, NIOC said Gazprom would work with Iran to help complete an unfinished LNG export project.
Tags: Gas, Gazprom, LNG, NIOC
Recent Posts
Rio Tinto and AMG Metals & Materials to assess low-carbon aluminium project in India
Gasum selects Wärtsilä for another bioLNG project in Sweden
V. secures full management contract with International Seaways
Italian container terminal to cut operational emissions with electric Konecranes
MOL and Tokyo Gas to Install World’s Second Wind Challenger to New LNG Vessel
Azane Unveils New Subsidiary to Drive Ammonia Bunkering Development Oslo, Norway
IKEA Drives a Green Revolution in Indian Logistics with Electric Freight Truck
NYK Concludes Contract for a Dual-fuel Methanol VLCC for Idemitsu Tanker