Iran to Develop Gas Layers of Balal Oilfield

Iranian Offshore Oil Company (IOOC) plans to develop gas layers of Balal offshore oil field in southern Iran.

Press TV quoting Alireza Ghazi-Zahedi, deputy director of the company's Lavan Operational Zone, said the development of Balal field oil layers began in 2001, and currently the development of the field’s gas layers is underway. 

He pointed to the enormous natural gas potential of Balal oil field, adding that comprehensive studies are being conducted to find out about the total gas reserves of the field. 

IOOC also plans to extract 500 million cubic feet of gas per day from the oil field. 

The Balal gas layer follows the eastern side of the giant South Pars Gas Field, and is estimated that the site contains approximately 183 million barrels of recoverable gas condensate reserves, Press TV said.