The Iranian Central Oil Fields Company, a subsidiary of the National Iranian Oil Company, is carrying out projects worth $350 million to increase natural gas production in Homa, Varavi and Tabnak gas fields in Fars Province by building more gas boosting pressure stations.
According to data from the Oil Ministry, the plans will help triple the current output at 100 million cubic meters per day, the Oil Ministry news service reported.
According to the portal, the initiative will increase recovery rates by 34%, 16% and 3% in Homa, Varavi and Tabnak gas fields respectively.
“Upon the venture’s completion, close to 22 million barrels of condensates will also be extracted from the fields annually,” Ramin Hatami, the head of ICOFC, said.
The project entails laying 90 km of gas pipeline, extending power transmission lines by 90 km and establishing four substations.
“The output of the fields will be transferred to the Parsian Sepehr Gas Refinery in Fars Province to be converted to value-added products, namely ethane, propane and butane, which will then be used as feedstock in petrochemical plants in Asalouyeh, Bushehr Province,” he said.
The Parsian natural gas liquid recovery plant has an annual capacity of 3.2 million tons of NGL and will help complete the value chain and develop the downstream petrochemical sector.
The huge facility will receive 70 million cubic meters of natural gas from Homa, Varavi, Tabnak and Shanoul gas fields (in Fars Province) per day to produce 3.2 million tons of ethane, propane and butane.
An estimated 16 mcm of methane will also be produced annually for feeding the national gas grid.
NGLs are a group of hydrocarbons, including pentane, ethane, propane and butane. These are differentiated from one another by the number of carbon atoms in their molecular chain. They have a wide variety of applications ranging from specialized fuels (propane, butane) to petrochemical feedstock for manufacturing plastics and fertilizers.
The ICOFC will also start operations in the form of EPCF, or engineering, procurement, construction and financing contracts to develop Nar and Kangan gas fields (Bushehr Province) and Dehloran Oilfield in Ilam Province.
ICOFC has three subsidiaries, namely West Oil and Gas Production Company, East Oil and Gas Production Company and South Zagros Oil and Gas Production Company.
