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April 28, 2022

Farzad B Conventional Gas Field, Iran

By Carmen

Farzad B is a conventional gas development located in shallow water in Iran and is operated by Petropars. Discovered in 2007, Farzad B lies in block Farsi, with water depth of around 295 feet.

The project is currently in feasibility stage and is expected to start commercial production in 2025. The development cost is expected to be $11,000 m.

Field participation details

The field is owned by National Iranian Oil.


Production from Farzad B

Production from the Farzad B conventional gas development project is expected to begin in 2025 and is forecast to peak in 2039, to approximately 48,000 bpd of crude oil and condensate and 1200 Mmcfd of natural gas. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2054.


Remaining recoverable reserves

The field is expected to recover 1,797.28 Mmboe, comprised of 348.19 Mmbbl of crude oil & condensate and 8,694.49 bcf of natural gas reserves.


Contractors involved in the Farzad B conventional gas field

Some of the key contractors involved in the Farzad B project as follows.

EPC Contractors: National Iranian Oil

Other Contractors: National Iranian Oil

About Petropars

Petropars Ltd (Petropars) a subsidiary of NICO Naftiran Intertrade Company is an oil and gas company that explores, exploits, and develops oil and gas projects. The company offers upstream oil and gas, crude oil, natural gas, and hydrocarbon resources. It offers services which include facilities services, engineering, procurement, construction, designing, fabrication, installation, offshore and onshore services, and others. Petropars also offers acquisition and development, exploration, operations and management, and legal affairs, financial, overseas projects, public relations, internal audit, security, ICT, financial affairs, HSEQ, planning, commercial, contracts, and construction management services. The company also provides petroleum, general, joint venture, tenders, technical knowhow, and project and safety engineering management services. Petropars 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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