TEHRAN (FNA)- Iran’s oil minister held talks with Omani officials and agreed to set up a joint technical committee on development of Kish gas field.
Gholam Hossein Nozari met his Omani counterpart Mohammed bin Hamed bin Seif al-Rumhy on Monday in Oman and both sides reached an agreement to set up a technical committee to follow up on a multi-billion-dollar deal on developing Kish gas field that both countries signed in June 2007.
The agreement signed between Iran and Oman on making joint investment in Kish gas field is worth $7 billion and can be increased to $12 billion, Iran’s First Vice President Parviz Davoudi said in April.
The deal is expected to produce one billion cubic feet per day (cf/d) of gas, MEED Daily reported.
Oman’s Oil and Gas Ministry forecast that demand for gas in the sultanate will reach 3.8 billion cf/d by 2010 which is well above 2.6 billion cf/d of the planned supply.
Iran and Oman have recently signed an agreement based on which Iran will export natural gas to Oman for export beyond the neighboring Arab state.