Oman and Iran plan to complete the development of the Kish gas field in the Persian Gulf by 2012, as Iran increasingly seeks to develop its oil & gas sector.
Reports from Reuters news agency and Tehran Times suggest the two countries will proceed with the development with the sultanate footing the bill of up to $12bn, an Omani energy ministry official said.
Iran and Oman signed a deal in April to jointly develop Iran’s Kish gas field in the Persian Gulf at an estimated cost of between $7bn and $12bn, but did not give a timeline for the project at the time.
This latest announcement provides a dedicated time-scale for the project and signals the latest step forward. An un-named official is believed to have told Reuters, “Oman is going to wholly fund the Kish gas field and we expect to sign an agreement at the end of 2008 so the plant can start producing gas for Oman by 2012.”
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