IOOC to Develop 16 Offshore Fields in Southern Iran

The Iranian Offshore Oil Company (IOOC) will develop 16 new offshore oil and gas fields off the island of Qeshm in southern Iran to support the island's development as an energy hub, according to a report Monday by the country's Fars news agency.

The company's director of Qeshm operational zone Heydar Yarveisi said the necessary infrastructures are in place for the development of Towsan, Northwest Towsan, Taftan, Hormuz, Gourzin, Salakh, Forouz A and B fields.

Meantime, output at Hangam oil field has risen from 4,000 barrels per day to 30,000 barrels per day, while gas production capacity in Hangam will increase from 80 to 180 million cubic feet as part of the development project, which also includes construction of a 25-megawatt gas power plant.

Yarveisi said Forouz B field, which contains an estimated 28 trillion cubic feet of gas in place and 180 million barrels of gas condensate, is expected to produce up to one billion cubic feet of gas and 10,000 barrels of gas condensate daily. The volume of gas will allow the generation of up to 6,000 megawatts of electricity for consumption in Iran.

“With a daily production of 75 million cubic feet of gas from Gourzin gas field, Bandar Abbas Refinery and a cement factory in Khamir Port will be fed with the necessary gas,” he added.

Yarveisi said a new refinery is under construction in Qeshm with a daily production capacity of 80 million cubic feet, while four wells will be drilled and one offshore platform will be installed as part of the development of Towsan oil field.

Qeshm is estimated to sit atop more than four billion barrels of oil and 10 trillion cubic feet of gas in place.

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