TEHRAN (PEDCO) - Petroiran Development Company (PEDCO) has signed agreements to conduct development studies for the Shahidan, Zilaei, and Karun gas fields, in collaboration with Masjed Soleyman Petrochemical Company.
These agreements are part of a broader initiative to boost Iran's gas production capacity by 127 million cubic meters per day.
The agreements were signed during the 28th International Oil, Gas, Refining, and Petrochemical Exhibition in Tehran.
The signing ceremony was attended by Petroleum Minister Javad Owji, CEO of the National Iranian Oil Company Mohsen Khojasteh-Mehr, CEO of the National Petrochemical Company Morteza Shahmirzaei, and other senior officials from the oil, gas, and petrochemical sectors.
The total value of the agreements signed amounts to $6.4 billion.
The projects aim to enhance gas production to ensure a stable supply for petrochemical feedstock and to support Iran's gas export capabilities.
The development study agreements cover 16 gas fields across southern and southwestern Iran and the Persian Gulf.
Highlights include:
- Zireh and Khartang Fields: Awarded to Petro Kaveh Ofogh Company for a $1 billion investment to increase gas production by 24 million cubic meters per day.
- Sefid Zakhur, Sefid Baghun, and Halgon Fields: Jointly awarded to Parsian Oil & Gas Development Group and Petropars Company, with an $800 million investment expected to add 27 million cubic meters per day.
- Shahidan, Zilaei, and Karun Fields: In collaboration with Masjed Soleyman Petrochemical Company and Petroiran, with a $1.8 billion investment to increase production by 11.6 million cubic meters per day.
- Asalouyeh West and Kangan Pressure Boosting Station: Awarded to Navid Zarshimi Company, with a $600 million investment to add 44 million cubic meters per day.
Further agreements include the development of the Milaton, Rudak, Binak, and Rag Sefid fields with Tamin Oil, Gas, and Petrochemical Investment Company (TAPPICO), aiming for a 7.7 million cubic meter per day increase with a $950 million investment.
Additionally, the Ahvaz and Marun fields will be developed by the Persian Gulf Petrochemical Industries Company, targeting a 9.8 million cubic meter per day increase with a $1 billion investment.
These initiatives are expected to create 25,000 direct and indirect jobs, particularly in the provinces and cities where the projects are located.
Furthermore, 1% of the investment volume will be allocated to the social responsibilities of the National Iranian Oil Company, especially in oil-rich areas.
For the first time, petrochemical holding companies are engaging in upstream gas field development to secure a stable feedstock supply for their operations.
This strategic move is intended to utilize accumulated capital, maximize existing capacities, and generate wealth for the country.