NIOC announced in a press release that the Development contract of Lavan gas field was signed between Iranian Offshore Oil Company (IOOC) and Energy Sepehr Co. today (27 December 2011) in presence of the Iranian minister of Petroleum, Rostam Ghasemi, and managing director of National Iranian Oil Company (NIOC), Ahmad Ghalehbani.
According to the contract, the development plan of Lavan gas field will be completed during 56 months while the contract’s value in both upstream (field development) and Petrochemical is evaluated to be around $6 billion.
The development plan of this field includes drilling of 13 new production wells, one acid gases injection well, one waste water injection well, and also testing two existing wells to estimate the wells’ potentials.
Meanwhile, construction of gas condensates storage tanks, and streamtube pipelines, also building separation, stabilizing and sweetening facilities of gas condensates are included in the contract.
Production of gas and gas products to feed downstream petrochemical facilities at Lavan Island in order to make Lavan the third petrochemical zone of the country are the main objectives of the development plan.
Based on the master development plan of Lavan gas field, this gas field holds almost 9.5 TCF In Situ gas. Also the production capacity of the field is estimated to be about 750 MCF.
Offshore Energy Today Staff, December 27, 2011;