Iran stepping up offshore oil and gas development

Oil production from Iran’s fields in the Persian Gulf will rise by 40% by 2020, according to Mahmoud Zirakchianzadeh, Iranian Offshore Oil Co. (IOOC) managing director.

Offshore staff

TEHRAN, Iran – Oil production from Iran’s fields in the Persian Gulf will rise by 40% by 2020, according to Mahmoud Zirakchianzadeh, Iranian Offshore Oil Co. (IOOC) managing director.

Currently the company produces oil and gas from 600 offshore wells, Zirakchianzadeh told Iranian news service Shana.

During the current year the company plans to initiateseveral new projects, he added, including construction of a 3.5-MMbbl oil storage tank, production of 540 MMcf/d of gas from the offshore Salman field, completion of the development plan for the Hengam field, and boosting gas pressure stations at the Abozar and Hendijan oil fields.

Other plans include implementing associated gas-gathering projects at Bahregan, Siri, Lavan and Kharg, and early production from theoffshore Kish gas field.

During last week’s OPEC ministerial meeting in Vienna, minister of petroleum Rostam Qasemi said Iran has held talks with Indian officials on development of the offshore Farzad B gas field.

6/3/2013

More in Company News