Iran expects to start recovering gas from its Kish Island gas field in the Persian Gulf by the middle of next year, the managing director of the state-run Petroleum Engineering and Development Company (PEDEC) Abdolreza Haji-Hosseinnejad said this weekend. The drilling will be undertaken by PEDEC itself, while construction of a refinery will be put out to tender and will be financed by foreign investment, he added.
Last July, the Iranian Economic Council announced that it had earmarked $1.4bn for the development of the gas field that is situated to the south of Kish Island and which is expected to produce 9bcm of gas a year once it is operating at full capacity.
Source: theiranproject