A French company has proposed the purchase of associated petroleum gas (APG) of Forouzan oilfield flares for conversion into liquefied natural gas (LNG), announced oil minister.
Bijan Namdar Zanganeh said in a televised program late Sunday, "A small French company, in cooperation with its Iranian partners, has proposed to the National Iranian Oil Company (NIOC) to buy the APG of FZ-A platform in Forouzan oilfield and convert it into LNG," reported Fars News Agency.
"In case the NIOC accepts the French proposal, 25 percent of the total APG in Iranian Southern oil fields will be managed," the minister said.
As reported, the French company plans to construct a platform in the neighborhood of FZ-A to undertake the conversion process.
According to NIOC data, the volume of the burnt flare gas in FZ-A platform currently stands at 5.4 million cubic meters (MCM) per day and the Iranian company has conducted negotiations with both domestic and foreign companies to endorse deals on averting the energy waste.
Forouzan oilfield was discovered in 1970 with 2.3 billion barrels of in-situ reserves. It is the biggest joint oil field with Saudi Arabia and is called Marjan by the Saudis.