Iran awards major flare gas contracts to domestic firms
Iran has awarded major flare gas contracts to domestic firms as part of efforts to reduce greenhouse gas emissions and promote sustainable energy practices.
The contracts were awarded on Saturday in a ceremony in Tehran, where Iranian President Masoud Pezeshkian and Oil Minister Mohsen Paknejad used a video link to oversee the signing of the contracts in Iran’s southern province of Khuzestan.
The contracts cover flare gas recovery projects in 12 sites in the oil-rich Khuzestan, including in Rag Sefid, Karun, and Ahvaz oilfields.
Iran’s Oil Ministry’s news service Shaha said in a report that the contracts will enable five private companies based in Iran to recover 295 million cubic feet (8.35 million cubic meters) of flare gas per day.
The report said the projects will be executed in the next 18 months, and foreign partners of the Iranian contractors are expected to transfer their technology into the country.
It said the projects will reduce Iran’s daily greenhouse gas emissions by 30,000 metric tons, reinforcing the country’s commitment to environmentally responsible energy production.
Shana said the projects will also create lots of permanent jobs in Khuzestan, a populous province on the border with Iraq, which has suffered from chronic employment issues in the past years.
Iran plans to capture up to 15 million cubic meters per day or nearly 5.47 billion cubic meters per year of natural gas from its oilfields until the end of the calendar year in late March.
That would be above a target of 4 billion cubic meters per year set in a five-year development plan of the country that ended in 2023.
However, an ongoing development plan stipulates that Iran should be able to capture 16 billion cubic meters of natural gas per year from its oilfields by 2028.
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