Kish Island gas field operational next year, refinery to be financed by FDI

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.