Project Profile
Location: Persian Gulf
Value: US$6.72 billion
Forouz B is situated in the Persian Gulf amidst three Iranian islands; Kish, Sirri, and Qeshm.
The field holds around 28 trillion cubic feet of in-situ natural gas and 180 million barrels of gas condensates. The development plan, which is set for completion within five and a half years, aims to produce one billion cubic feet of gas, 10,000 barrels of condensates, and 6,000 megawatts/per day of power in the first phase.
The project was expected to be implemented in a five year period with an EUR6 billion (US$6.72 billion) investment. Of this, EUR2.5 billion (US$2.8 billion) was allocated for construction of the power plant, plus another EUR2.5 billion for the gas field and refinery. Gas will be exported to target markets in Iraq, Turkey, Pakistan, Oman and the UAE.
Operators:
Iran Offshore Oil Company (IOOC)
Iran\'s Power Projects Management Company (MAPNA)