Groundwork prepared for Forouz B in Persian Gulf project

National Iranian Offshore Oil Co. (NIOOC) should sign a development contract shortly with Iran’s Mapna Group for the Forouz B gas field in the Persian Gulf.

Offshore staff

TEHRAN, Iran – National Iranian Offshore Oil Co. (NIOOC) should sign a development contract shortly with Iran’s Mapna Group for the Forouz B gas field in the Persian Gulf.

According to Mapna Managing Director Abbas Aliabadi, speaking to Iranian news service Shana, subsidiary Tehran LNG Co. has completed studies on construction of gas-fired power plants to convert the gas for electricity.

Some of this could be exported to neighboring countries including Iraq, Turkey, Pakistan, Oman, and the UAE.

He added that the upcoming work plan included 3D seismic surveys, mapping of the field and drilling appraisal wells.

Investigations have already started into purchasing a jackup for the drilling program and a yard on Kish Island to support marine operations.

Aliabadi estimated development costs for Forouz B at $6 billion, of which Mapna Group would provide two-thirds. The remainder would be accounted for through loans by Iran’s Ministry of Petroleum.

11/23/2011

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