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 GoKish -> News -> One billion cubic feet of gas daily to be exploited in Kish in the next three years
One billion cubic feet of gas daily to be exploited in Kish in the next three years

      A contract has been signed for the drilling of 12 new wells in phase one of the development of Kish gas field between Mahdi Bazaargan, the Managing Director of Petroleum Engineering and Development Company (PEDEC), and Heidar Bahmani, the Managing Director of the National Iranian Drilling Company. As reported by ISNA, this contract is worth 126 million euros and 50 billion rials and will be executed in 36 months with a couple of two thousand horse steam masts. According to the report, the aims of executing phase one of the development of this field is the production of one billion cubic feet of gas per day, by drilling 12 new wells and activating one existing well in two clusters in Kish at existing 1 and 2 Kish wells. According to this contract, 12 new wells will be drilled in this field, 11 of which are for development and one is inoperative. The inoperative well will be developed after the acquisition of the required information of its gas liquids and diagrams. Also, the existing Kish 2 well will be repaired. According to initial studies, the volume of in-place gas deposits at the Kish gas field is equal to 48 trillion cubic feet and the exploitable gas is estimated at 36 tcf. The in-place gas liquid is estimated at 514 trillion feet and the exploitable gas is estimated to be 360 million cubic feet. According to ISNA, at these ceremonies, Mahdi Bazaargan, the Managing Director of Petroleum Engineering and Development Company (PEDEC), stated that by drilling 12 new wells and the development of one inoperative well, it will be possible to exploit one billion cubic feet of gas from the Kish gas field within the next three years, and added: “The gas from this field will be transferred to Kharg through pipelines and the initial works have begun on the refinery”. He stated that the construction of the refinery will be expanded in 1-3 phases and the reason for choosing Bandar Kharg as its location was to prevent probable damages to the ecology of Kish Island and the preservation of existing tourism opportunities. Regarding the various stages of the tender for the drilling, Bazaargan explained: “Following the approval of seven drilling companies - National Iranian Drilling Company, Petrohortage, Dana, Pedex, Oriental Oil Kish, NAFTKAV Engineering Services Co, and Kendokav Energy - and receiving the financial and technical offers of the companies, the National Iranian Drilling Company finally won the tender. It is forecasted that the drilling in Kish will not make any remarkable changes in its tourism activities. According to him, phases two and three of the development of the Kish gas field – each leading to the production of one billion cubic feet of gas fuel daily – will be done by the Iranian Offshore Oil Co. The financial resources of the contract will be provided by the internal resources of NIOC. At the ceremonies, Heidar Bahmani, the Managing Director of the National Iranian Drilling Company, pointed out to the drilling of 150 wells last year (2007), and reiterated: Calculating the five million dollar cost of drilling a well, the work value of the company’s projects in 2007 is estimated at one billion and 100 million dollars.
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