Iran pins hopes on foreign investor to develop giant Kish field
Ten years after resuming the development of Iran’s second biggest offshore gas field, Kish, with 1.4 trillion cubic meters of in-situ gas reserves and 70 percent recovery rate, the country hasn’t been able to progress noticeably. Last month Iran signed a memorandum of understanding with Shell on studying the reservoir, which contains 514 million barrels of gas condensate as well. An unnamed source told Fars news agency January 18 that Iran is likely to hire Shell to develop Kish gas field, a giant field in the Persian Gulf, but spokesman of Shell told Trend that he can’t comment on this issue. According to an official document, prepared by Iran’s Oil Ministry and seen by Trend, the first phase of project is aimed to produce 28.3 million cubic meters per day (mcm/d) of gas as well as 11,300 barrels per day (b/d) of gas condensate. The field, divided to three phase, would produce 85 mcm/d of gas after becoming full operational. Iran started developing Kish gas field 48 years ago