May 21, 2023 17:54

NIOC Commences Farzad B Gas Field Development Operations

Sour gas from the Farzad B Gas Field will be transferred to Kangan Petro Refining Company in Bushehr Province to be processed and piped to refineries in the South Pars complex in Asalouyeh

Operations to develop the Farzad B Gas Field in the Persian Gulf have started, the managing director of the National Iranian Oil Company said.
“The first phase of the development plan that entails the construction of a jacket is estimated to cost $2 billion, which will be completed in 2024,” Mohsen Khojastehmehr was also quoted as saying by ILNA.
To expedite the operations, domestic firms, including NIOC, Petropars Group and Iranian Offshore Engineering and Construction Company, signed a trilateral contract on May 20 in Tehran, he added.
As per the deal, IOEC has started to build the jacket platform of the gas field and it will be installed at the location by December 2024.
According to Khojastehmehr, the venture will raise natural gas output to 28 million cubic meters per day by 2026 from the present 5 mcm/d.

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Farzad-B Gas Field Development

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shapourb_8860 - Permalink

" Discovered by a consortium of Indian companies a decade ago, the field was to be tapped by an Indian consortium led by ONGC Videsh Ltd, the foreign investment arm of India’s Oil and Natural Gas Corporation. However, years of negotiations with the Indian side failed largely due to ONGC’s procrastination.In 2019, NIOC eventually came to the conclusion that Iranian companies could do the job and Petropars started conducting feasibility studies to develop the field." The decision should have been made sooner to give the project to Iranian companies. The Indians making the excuse of US sanctions are also procrastinating developing the Chabahar port which should also be developed by Iranian companies and the Indian companies shunted out of the project.