TEHRAN, Young Journalists Club (YJC) - Iran has signed MoU with a number of internal companies and Shell to complete the Phase 1st of Kish Gas Island and develop other phases of the field.
Located 30 kilometers east of Lavan Island in the Persian Gulf, Kish gas field holds an estimated 1.3 trillion cubic meters of natural gas in place and more than 500 million barrels of gas condensate.
The gas field is going to be developed in the form of new petroleum contracts.
Italian Eni and two Iranian companies have also expressed willingness for developing the field and have signed MoU to study the field.
The volume of gas condensate of the field totals 514 million cubic meters.
The first phase of gas fields is expected to produced 1 billion cubic feet of gas daily.
11.300 thousand barrels of gas condensates are expected to be extracted from the field.