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FinancialNews
15-09-19
POGC signs gas agreement with Petropars
(MENAFN) Iran's Pars Oil and Gas Company (POGC) and Petropars penned an agreement valued at USD440 million with a purpose to launch development works on Belal gas field.
Reports confirmed duration of 34 months to have been set for the execution of the offshore project, which will push s sour gas production capacity of 500 million cubic feet per day (mcf/d).
Petropars, as per the agreement, will commence the drilling of eight wells, establishment and installation of wellhead jacket, and the construction and installation of a platform that presents an output capacity of 500 mcf/d.
Under the deal, the Iranian company will also be setting up a submarine pipeline of roughly 20 kilometers.
Belal Gas Field is situated east of South Pars in the Persian Gulf and 90 km southwest of Lavan Island.
MENAFN1509201900450000ID1099005750
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