Iranian President Hassan Rouhani has officially inaugurated the gas processing complex at the Hengam Joint Oilfield.
The plant can process 80 mcm/day of natural gas which was previously flared.
Iranian contractors, manufacturers and advisors developed the complex whose return on investment will be less than a year.
The project generates $700,000 per day of revenues by injecting the processed gas into the national gas trunklines.
The managing director of Iranian Offshore Oil Company, Hamid Bovard, says the gas processing complex of Hengam Oilfield will save Iran over 300 million dollars annually, once fully operational.
Addressing the opening ceremony of the gas processing complex, Hamid Bovard today, Wednesday, added:
“The operation of this complex, in addition to preventing the burning of gases in the oilfield, has considerable environmental advantages and makes injection of the processed gas to the gas distribution network of the country.
Before inauguration of the project, Iran flared an equal to 14,000 crude oil barrels/day of gas in the field, he added.
The project was funded with €70m which will return over a period shorter than a year, Bovard further noted.