Iran discovers new gas field in south

Published June 19th, 2001 - 02:00 GMT

Iran has announced the discovery of a new onshore gas field near the port city of Bandar Abbas in the southern province of Hormozgan, state television reported Monday, June 18. 

 

The South Gashvieh gas field, which is expected to be operational by 2004, will have a production capacity of between 10 million and 12 million cubic meters (350 million and 420 million cubic feet) of gas daily, it said. 

 

It said the field is located some 60 kilometres (35 miles) off the Minab-Bandar Abbas road in Hormozgan, but did not say how large the reserves are estimated to be. 

 

Iran's total natural gas reserves are estimated at some 20,000 billion cubic meters (700,000 billion cubic feet). 

 

Iran holds the world's second-largest reserves of natural gas after Russia but exports very little and has been actively seeking foreign investment to boost its oil and gas production capacity. 

 

Tehran counts only Azerbaijan and Turkmenistan as clients for gas, although Turkey is about to come on line as a customer, and China, Dubai and India are being courted. 

 

In January, a top official from Iran's national gas company said Tehran was expecting to boost its natural gas production by more than 20 percent to 360 million cubic meters per day beginning in March. — (AFP) 

 

© Agence France Presse 

 

© 2001 Mena Report (www.menareport.com)

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