• Feb 14 2023 - 09:34
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Iran Eyes 50 Percent Gas Output Growth by 2029

The CEO of the National Iranian Oil Company (NIOC) announced the implementation of plans to increase gas production of the country by 50% by 2029.

 

The CEO of the National Iranian Oil Company (NIOC) announced the implementation of plans to increase gas production of the country by 50% by 2029.

“With the implementation of these plans, the country's gas production capacity will increase from 1 billion cubic meters to 1.5 billion cubic meters per day by 2029, said Mohsen Khojastehmehr on Monday.

During a visit to Aghar, Dalan and Dey fields and Farashband Gas Refinery in Fars Province on Monday, the official said that one-third of the country's gas reserves are in Fars province and under the management of the Iranian Central Oil Fields Company.

He said: “According to the planning, an increase of 142 million cubic meters of gas has been seen with an investment of $3.6 billion for the development of 13 gas fields and two plans to increase pressure in this company.”

The NIOC CEO underlined the increase of gas in different parts of the country, and stated: “The purpose of my trip to Fars province is to visit important projects to enhance gas production, such as the project to increase the production of Aghar and Dalan, Farashband Gas Refinery.”

Mr. Khojastehmehr announced NIOC’s readiness to increase the daily production of 7 million cubic meters from the Aghar and Dey fields in 2023, and added: “With the completion of the development of the Aghar and Dey gas fields, a total of about 25 million cubic meters of gas will be added to the country natural gas production capacity by March 2025.”

He continued: “Right now, the Farashband gas refinery is operational with its maximum capacity (45 million cubic meters per day), but according to the plan, with an investment of about $177 million, the capacity of this refinery will reach 70 million cubic meters per day in the second phase.”

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