SHANA -- The head of the Iranian Offshore Oil Company�s Kish District said by replacing gasoil with gas in the island�s power plant, the country has saved an equivalent of $1 billion worth of gasoil.

Shahsavar Arghash, speaking on the sidelines of the 16th Kish Energy Show, stated that one of the major policies of Iranian Offshore Oil Company (IOOC) is to use the capacity of Iranian domestic and oil industry equipment manufacturers.

He said the project to replace gasoil with gas in the power plant began back in 2006. The gas which was previously flared was supplied from oil activities in Siri Island.

The official further said that so far the project had saved the country 15 million barrels of gasoil.

Gas compressors in Kish Island can deliver up to 25 million cubic feet of gas.