Petrofarhang Holding’s Strategic Entry into Iran’s Upstream Oil and Gas Sector
In line with its strategy to develop and complete the energy value chain, Petrofarhang Holding has, for the first time, entered the upstream sector of the oil industry by undertaking the development of the Pazan and Gordan gas fields. The development plan for these gas fields in Fars Province will be implemented in two phases over a period of seven years, targeting a daily production of 31.5 million cubic meters of gas.
Over the 20-year contract period, a total of approximately 180 billion cubic meters of gas and 58 million barrels of gas condensate are expected to be produced from these fields. The operational scope of the project includes drilling and completing 24 wells, constructing separation and gathering centers, and laying 310 kilometers of gas pipelines.
In the first phase, by the end of 1407 (March 2029), daily gas production capacity will increase by eight million cubic meters, contributing effectively to offsetting the country’s gas imbalance, particularly during the cold seasons.
By fulfilling this national responsibility in supplying the country’s energy needs, Petrofarhang is taking a significant step toward resolving the energy imbalance while creating new value for the Cultural Teachers Investment Fund.
The project is being executed in partnership with Bakhtar Group (70% share) and Petrofarhang Holding
(30% share).