TEHRAN, May 14 (MNA) � PEDEC managing director has announced the launch of talks with Japan�s Marubeni Corporation on construction of a gas refinery in Kish Island.


Managing Director of Petroleum Engineering and Development Company (PEDEC) Abdolreza Haji Hosseinnejad touched upon the latest status of Kish gas field development saying �three developmental phases have been defined for the expansion of the Iranian field.�

The official said the first phase aims to reach a daily production of about 25 million cubic feet of natural gas as well as more than 11 thousand barrels of gas condensate; �accordingly, construction of 14 wells in the coastal section of the gas field has been put on the agenda.�

Haji Hosseinnejad emphasized that drilling project of the first phase is more than 75 per cent through asserting �according to the stipulated timetable, drilling of the field�s coastal wells will be accomplished by the end of the current Iranian calendar year (ends March 20, 2017).�

He also pointed to the progress made in the pipeline installation project stating �recently, a contract was inked on construction of the field�s power plant while the remaining onshore facilities will be implemented by the end of the current year.�

Referring to a large bid for establishing a gas refinery with a capacity of 25 million cubic meters, PEDEC managing director underlined �so far, nine groups including Iranian and joint foreign companies have submitted tenders.�

�In addition to Iranian companies, large oil firms from South Korea, Japan, France and China have put in their bids,� he continued.

Haji Hosseinnejad estimated the value of the gas tender for gas refinery construction as about 800 million dollars reminding �one prominent company participating in the offer has been Marubeni Corporation of Japan with which we have launched negotiations.�

Kish gas Fied is a giant gas field close to Kish Island in the Persian Gulf

Discovered in 2006, the field marks one of NIOC�s recent discoveries and holds 1,900 km3 of gas in place of which 1,400 km3 is recoverable. The field also holds at least 1 billion barrels of condensate of which at least 331 million barrels are recoverable.

By Mehr News Agency