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PetroEnergy Information Network

Saturday / 10/1/2016 12:00:00 AM / 20:41
Service : Gas
News Id : 270197
Reporter : 400

Farzad B Development on NIOC Agenda

(Saturday, October 1, 2016) 20:41

TEHRAN, Oct 01 (Shana) – Managing Director of National Iranian Oil Company (NIOC) Ali Kardor says development of Farzad B is on the NIOC agenda.

The Farzad B gas field is an Iranian natural gas field that was discovered in 2012. It began production in 2013 and produces natural gas and condensates. The total in place reserves of the Farzad B gas field are around 21.7 trillion cubic feet (620×109m3) of which around 60 percent is recoverable and production is slated to be around 1.1 billion cubic feet/day (31×106m3).

In an address to a group of the Pars Oil and Gas Company officials, Kardor said if two phases of South Pars gas field are operational Iranian economic growth rate will reach five to 5.5 percent next year.

Kardor referred to a meeting with the World Bank directors and experts last week and said the WB officials were sensitive with activities in South Pars, the oil prices fluctuating between 40 to 45 dollars a barrel would be enough to lead to operation of two phases of the South Pars gas field and in that case, such an economic growth rate in Iran will be possible.

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