NISOC Signs APG Contracts

The National Iranian South Oil Company, a subsidiary of state-owned National Iranian Oil Company, signed two contracts, worth $1.2 billion, on Tuesday with two domestic companies on preventing the flaring of associated petroleum gases from oilfields in the east Karoun region, Khuzestan Province.
The signing ceremony of the contracts was attended by Oil Minister Bijan Namdar Zanganeh, Shana, the Oil Ministry’s news agency, reported.
Based on the contracts, Persian Gulf Petrochemical Industries Company and Marun Petrochemical Company will implement 32 plans to renovate and upgrade NISOC’s installations for flare gas collection in the next two and a half years, which will save 22 million cubic meters of natural gas per day.
APG is a form of natural gas found in deposits of petroleum. It is often released as a waste product and burnt off as flare gas.