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
Vedanta Aluminium signs pact with GAIL for supply of natural gas
HMM introduces South Korea’s first LNG-powered vessels
NGEL inks pact with NREDCAP in Andhra for RE projects
Global warming won’t end if net zero is redefined
The Liberian Registry and Korean Register (KR) grant AiP to Samsung
To satisfy decarbonization targets, Big Oil invests billions in the manufacture of biofuel
ISO issues standards for methanol as a marine fuel
Amazon, partners to test electric trucks on a freight corridor in India