Oil Ministry to Invest $4.5 Billion in Fars Gas Development

The Oil Ministry is to invest $4.5 billion for the development of the upstream gas sector in the Fars Province, the oil minister said on Thursday while visiting the southern province.
“Fars, the second biggest holder of gas reserves in the country after Bushehr Province, has a daily production capacity of 114 million cubic meters of natural gas,” Javad Owji was also quoted as saying by the Oil Ministry’s news agency Shana.
Emphasizing that no investment has been made in the upstream and downstream sectors of gas fields and refineries in recent years, he said, “The Oil Ministry plans to invest in the upstream gas sector, including the fields of Phase 11 of South Pars Gas Field, Aghar and Dalan, Shanol, Tabnak, Homa and Varavi, for increasing pressure and developing new gas fields.”