Deputy Managing Director of the National Iranian Oil Company (NIOC) for Development and Engineering Affairs Reza Dehqan said on Sunday that development of Balal Gas Field will be assigned to a competent Iranian company through signing and sealing a contract. valued at $440 million.
This contract will be inked with an Iranian company next week. Dehqan added.
With the development of this joint gas field. 500 million cubic feet meter (MMCF) sour gas will produced. he said. adding. “The produced gas is transferred to the Platform C in Phase 12 of the field and then. it is sent to Phase 12 to the refinery through the pipeline for processing operation.
According to this report. Balal Gas Field is located in Eastern part of South Pars Gas Field. 90 km Southeast Lavan Island.
Signing and sealing this contract is another symbol of reliance of Iranian oil industry to the high capabilities and potentials available in the country.
Following the US’ imposition of strict sanctions against Iran’s oil industry. Tehran has adopted self-sufficient policies to soft-pedal the influence of Washington’s harsh policies.
In July. Iranian Oil Minister Bijan Namdar Zanganeh announced that the country successfully completed installing a super-size drilling rig at South Pars gas field in the Persian Gulf. the largest in the world. without any foreign company involved after Tehran made its industries self-sufficient to defy the US unilateral sanctions.
Zanganeh announced on July 13 that the 2.400-ton platform. dubbed SPD-14B. had been mounted earlier in the day by Iranian crew and experts in Persian Gulf waters off the Southern Iranian coast.
Iran has sought to increase its daily production at oil and gas fields despite sanctions imposed by the United States which restricts Tehran’s ability for export.
Zanganeh had said earlier this year that Iran’s gas production at South Pars had already exceeded 21.5 billion feet (610 million cubic meters) per day. adding that Iran’s share of daily production at the field had dwarfed that of Qatar.