Ebrahim Piramoun, CEO of the National Iranian South Oil Company (NISOC), highlighted the significance of domestic private sector collaboration and investment in upstream oil industry sectors as a crucial step toward achieving the organization’s goals of sustainable production, environmental protection, and mitigating the impact of sanctions.

He stated that the project will reduce gas flaring at the Maroun 5 complex by approximately 10 million cubic feet per day, generating an annual economic benefit of $5 million for the oil industry, in addition to returns for investors.

Piramoun noted that the project has the capacity to recover and process 20 million cubic feet of sour gas daily and will create around 40 sustainable jobs following its launch.

Qodrat Nasseri, CEO of Maroun Oil and Gas Production Company, expressed optimism about future collaborations with capable domestic companies.

He stated that with the implementation of this project and the low-pressure gas gathering scheme by Tamkar Gas Company, gas flaring at the facility will be minimized after years of operation.

Naseri explained that gas sweetening equipment using the absorption method was employed for the gas gathering process, adding that the project executor has invested over $6 million in the initiative.