Iranian state firm Pars Oil and Gas (POGS) says it has been awarded a contract to develop the offshore Kish gas field. Recoverable reserves have been placed as high as 36 tcf with previous development plans targeting upwards of 5bn cfd (MEES, 8 April 2012). Iran’s Shana news agency says POGS is targeting 85mn cmd (3bn cfd).
This is a hugely ambitious target given the challenges facing Iran’s oil and gas sector under renewed US sanctions which have further deterred foreign firms from investing. After sanctions were lifted in early 2016, Kish garnered considerable high-level interest from foreign firms. MoUs were signed with Shell, Eni and Gazprom in 2016 and 2017 to study the field. (CONTINUED - 111 WORDS)