Iran earmarks $1.4bn for development of Kish gas field

Kish IslandIran has earmarked $1.4bn for the development of the Kish gas field to the south of Kish Island in the Persian Gulf. The decision was taken at the last meeting of the Iranian Economic Council attended by the First Vice-President Ishaq Jahangiri and Oil Minister Bijan Zanganeh. Once the field is running at full capacity, it is expected to able to produce 9bn m³ of gas a year.