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April 28, 2022

Balal Gas Field Conventional Gas Field, Iran

By Carmen

Balal Gas Field is a conventional gas development located in shallow water in Iran and is operated by Iranian Offshore Oil. Discovered in 2004, the field with water depth of around 246 feet.

The project is currently in feasibility stage and is expected to start commercial production in 2024. The Balal Gas Field conventional gas development will includes wellhead platform.

Field participation details

The field is owned by National Iranian Oil.


Production from Balal Gas Field

Production from the Balal Gas Field conventional gas development project is expected to begin in 2024 and is forecast to peak in 2026, to approximately 15,000 bpd of crude oil and condensate and 500 Mmcfd of natural gas. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2053.


Remaining recoverable reserves

The field is expected to recover 513.87 Mmboe, comprised of 78 Mmbbl of crude oil & condensate and 2,615.23 bcf of natural gas reserves.


Contractors involved in the Balal Gas Field conventional gas field

Some of the key contractors involved in the Balal Gas Field project as follows.

EPC Contractors: National Iranian Oil

Other Contractors: National Iranian Oil

About Iranian Offshore Oil

Iranian Offshore Oil Co (IOOC), a subsidiary of National Iranian Oil Co, is an oil and gas exploration and production company. The company carries the activities of exploration, production and development of oil and gas fields. Its services include renovating and reconstructing the installations, improving the production methods and conservation of oil and gas reserves. IOOC also performs storage engineering, descriptive drilling and general engineering and construction activities. The company has operations across Bahregan, Kharg, Siri, Lavan, Qeshm, Kish in Iran. IOOC is headquartered in Tehran, Iran.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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