Iran considers new island-based offshore hub
National Iranian Oil Co. (NIOC) plans to develop oil and gas fields offshore Qeshm Island in southern Iran, with a view to create an energy hub on the island within 10 years./ Hengam is the sole field producing light oil in this region, but the offshore Hormuz, Taftan, and Tosan fields could also be developed. Reserves in the area are estimated at 4 Bbbl of oil and 10 tcf (280 bcm) of gas./ According to Iranian news service Shana, the island could use the nearby gas reserves to produce more than 12,000 MW of electricity, if the finance is ...
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