TEHRAN - Iranian Offshore Engineering and Construction Company (IOEC) and Pars Oil and Gas Company (POGC) signed a deal worth $900 million on Saturday to work together in establishing the nations Kish gas field, Shana reported.Held on the event of the 44th anniversary of the Islamic Revolution, the signing ceremony was participated in by senior authorities consisting of Oil Minister Javad Oji, Head of National Iranian Oil Company (NIOC) Mohsen Khojasteh-Mehr as well as the heads of the signatory firms.Kish gas field is among Irans largest gas fields whose in-place reserves are approximated at 56 trillion cubic feet; when fully developed, the field will have the capacity to produce 120 million cubic meters of gas per day.As the biggest gas project in the country after South Pars, the Kish gas fields development plan is prepared in four stages and will take 14 months to complete.With the execution of this task, that includes the building and construction of a 200-kilometer submarine pipeline from Kish Island to Assaluyeh by Iran Marine Engineering and Construction Company and the completion of 14 wells by Irans National Drilling Company (NIDC), over 28.3 million cubic meters each day of gas and 11,300 barrels daily of gas condensate will be produced and moved from Kish Island to the refineries of South Pars Gas Complex (SPGC) in Assaluyeh.Kish gas Field is a giant gas field near Kish Island in the Persian Gulf.
It is among the NIOCs recent discoveries which was discovered in 2006.
The field likewise holds a minimum of one billion barrels of condensate of which at least 331 million barrels are recoverable.EF/ MAPhoto: POGC Head Mohammad-Hossein Motejali (R) and IOEC Head Mohammadreza Zahiri shake hands after signing an offer on Saturday.