Iran Economy NewsIran to sign $7.6 bln gas deal with local...

Iran to sign $7.6 bln gas deal with local company, Times says

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Bloomberg: The Iranian Offshore Oil Co. will award a contract valued at 6 billion euros ($7.6 billion) to a domestic Iranian company, to develop the Forouz B natural gas field, the Tehran Times reported.

Bloomberg

By Ladane Nasseri

The Iranian Offshore Oil Co. will award a contract valued at 6 billion euros ($7.6 billion) to a domestic Iranian company, to develop the Forouz B natural gas field, the Tehran Times reported.

The deal, which will be signed today with the MAPNA group, aims to result in the production of one billion cubic feet of gas and generate 3,000 megawatts of electricity per day in the first phase, the newspaper said, citing Iranian Offshore’s managing director Mahmoud Zirakchianzadeh.

The Forouz B gas field is located in the Persian Gulf.

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