NIOOC, MAPNA Sign Forouz B Development Deal

National Iranian Offshore Oil Company (NIOOC) and Mapna Group signed the development contract of Forouz B gas field. The field is estimated to hold 28 trillion cubic feet of gas.

Shana news agancy reported that it is estimated one billion cubic feet of gas and 10 thousand barrels of condensate per day to be extracted from the field in its first phase of development. Production of 1.490 million tons of gas liquids per year and 466 tons of sulfur per day are among the other targets of development the field.

The project is expected to be implemented in a five year period with 3.8 billion dollars investment.

Forouz B gas field was the second contract NIOOC signed for development after signing development contract of Lavan gas field.

The company also plans to finalize a big project in near future for production of 10 billion cubic feet of gas per day.