NIOC to Invest $11 Billion on Offshore Gas Fields Expansion

Iran will invest around $11 billion on its offshore gas fields to raise gas production by 240 million cubic meters per day, managing director of the National Iranian Oil Company said.
“The development of a new economic hub for gas production in the North Pars field is on the agenda of NIOC,” Mohsen Khojastehmehr was also quoted as saying by the Oil Ministry’s news agency Shana.
NIOC plans to develop the first phase of Kish Gas Field and accelerate the completion of Phase 11 of South Pars Gas Field, he added.
The official noted that with a $4-billion investment in the development of North Pars field, 100 mcm per day of gas will be produced from the field.