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Iran: NICOC's natural gas production hits 68b cu.m.

TEHRAN, Aug. 30 (Mehr News Agency) - Natural gas and gas liquids production by National Iranian Central Oilfields Company (NICOC) in the past year, stood at 68 billion cubic meters (cu.m.) and 36 million barrels, the managing director of the company said.

Given that the products - the natural gas and gas liquids together - produce the amount of energy equal to that of produced from 455 million barrels of crude oil, the company's productions have earned the nation about $23 billion thus far, Alireza Zeighami said.

Commenting on the achievements of National Iranian Central Oilfields Company, he said that since it was first launched in 1999, the company's oil, natural gas and gas liquids productions have respectively increased to 123,000 barrels, 193 million cubic meters and 48,000 barrels per day (bpd).

He further referred to the future plans of the company and said that, within the next 10 years the crude oil, natural gas and gas liquid productions of the company are expected to respectively rise to 390,000 bpd, 410 million cubic meters and 98,000 bpd, the Persian service of IRNA reported on Wednesday.

Iran-Armenia gas pipeline to become operational by December

Moscow, Aug 31, IRNA-A senior Iranian oil ministry official said Wednesday evening in Yerevan that Iran-Armenia gas pipeline will become operational by year-end.

The announcement was made by Iran's Deputy Oil Minister for International Affairs Hadi Nejad-Hosseinian in a meeting with Armenian Energy Minister Armen Movsisyan.

Nejad-Hosseinian, heading a delegation of experts from oil, energy and foreign affairs ministries arrived in Yerevan yesterday.

According to an agreement reached between the two sides, the 160-km gas pipeline will transfer some 36 billion cubic meter of Iran's gas to Armenia in the next 20 years.

... Payvand News - 8/31/06 ... --

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