TEHRAN, Sept. 18 (UPI) -- Energy officials in Iran and Oman have agreed to move on an estimated $9.5 billion deal to develop the Iranian Kish gas field in the Persian Gulf by 2012.
Both countries in April agreed to jointly develop the gas field, which has reserves approaching 59 trillion cubic feet of natural gas. A development deadline was not reached at the time.
The news of the deal provides the necessary provisions to move forward on the project, Iran's Fars News Agency said.
Iranian Oil Minister Gholamhossein Nozari was in the Omani capital, Muscat, in early September to discuss export plans from the Kish field.
Gas extracted from Kish and processed in Oman will be used by the National Iranian Oil Co., the energy sector overseer, for international sales.
"Oman is also going to develop the Bukha gas field at a cost of $200 million with a 62-mile pipeline transporting Iranian gas to Sohar and then eventually to Sur," Nozari said, referring to two Omani cities.
