Iran(I–MNA) - National Iranian Oil Company (NIOC) CEO Hamdi Bovard said on Saturday that Iranian contractors had started drilling operations at Belal to accelerate plans for gas extraction from the field. He described the initiative as a core element of Iran’s strategy to boost gas output and enhance the resilience of its national supply network.
According to Bovard, contractors are simultaneously building a large production platform and a 20-kilometer pipeline that will link Belal to facilities at South Pars, the world’s largest gas reserve shared between Iran and Qatar.
Belal lies 90 kilometers southwest of Lavan Island in the Persian Gulf and is estimated to hold 3 trillion cubic feet (84.95 billion cubic meters) of natural gas and about 100 million barrels of condensates.
Iran began producing oil from Belal in 2003 with assistance from French energy company Total, but gas development stagnated over the years due to restricted investment and foreign sanctions. In 2019, Pars Oil and Gas Company awarded Petropars a contract to drill eight wells — including six development wells — at Belal. The company has since installed a platform jacket and is working to complete the main production platform.
The $440-million project is designed to deliver 500 million cubic feet (14.2 million cubic meters) of gas per day and 15,000 barrels per day of condensates in its first phase. Its advancement comes despite ongoing US sanctions that continue to limit Iran’s access to foreign capital and modern technology.
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