Iranian Offshore Oil Company has assured that an adequate supply of gas to Qeshm Island will continue during winter, the director for Qeshm operational area at IOOC said.
Referring to the launch of new wells at Gourzin Gas Field, Mohammad Atiyar added that due to the rise in gas production in the region, in case of a surge in gas consumption in the winter, Qeshm operational area will be ready to fully supply gas to the island, ILNA reported.
“Three more wells will also become operational soon and they are expected to add about 1 million cubic meters of gas per day to the production of the region, which currently stands at about 2 mcm. The output of gas condensate will also increase by 100 barrels per day,” he added.
The construction of a 60,000-barrel gas condensate refinery is underway on Qeshm Island and will be completed within the next three years to help increase gasoline and other petroleum output in the country.
With the construction of Pasargad Qeshm Gas Condensate Refinery, 6 million liters per day and 2 billion liters per year will be added to the country's gasoline production capacity.
The project seeks to prevent the sale of raw gas condensate, create added value and create employment in the region.
The refinery will be built with an investment of $500 million and its products include liquefied petroleum gas, light and heavy naphtha, and gasoline.
In addition, subsea pipe-laying operations are underway to connect Qeshm to the national gas grid.
The operations include laying 60 km of pipelines from Bandar Abbas to Qeshm County in Hormozgan Province at a depth of 3,000 meters on the Persian Gulf bed.
The Bandar Abbas-Qeshm pipeline is an extension of the Iran Gas Trunkline-7 (IGAT-7) that starts in Asalouyeh, Bushehr Province, and pumps gas from the giant South Pars Gas Field in the Persian Gulf to the eastern regions, including Zahedan in southeast Sistan-Baluchestan Province.
The pipeline is expected to transfer 25 million cubic meters of natural gas to the island per day to be used as feedstock in Qeshm Power Plant and petrochemical plants under construction.
As the largest island in the Persian Gulf, Qeshm has the potential to become an energy hub in the region and one of the largest producers of oil and gas.
Qeshm is estimated to sit atop more than 4 billion barrels of oil and 283 billion cubic meters of gas. Numerous hydrocarbon fields, proximity to the strategic Strait of Hormuz and Oman Sea, connection to the national gas grid and access to Central Asian markets are among the advantages of the strategic island.
The Iranian Offshore Oil Company is one of the world's largest offshore oil production companies, with over a half a century of experience. The company shares one-third of Iranian oil export.
IOOC is in charge of developing crude oil reservoirs in the Persian Gulf, including Abouzar, Hendijan, Bahregansar, Reshadat, Soroush, Norouz, Salman and Doroud fields, as well as collecting associated petroleum gases from Kharg Island and Bahregan oil region.
Oilfields under IOOC development hold an estimated 100 billion barrels of crude, comprising roughly 15% of the country's total oil reserves.
