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EghtesadOnline: Drilling operations in Kish Gas Field in the Persian Gulf has made 85% progress, according to the official portal of the state-run National Iranian Oil Company.

According to officials at Kish Petroleum Engineering Company, the field's contractor, the project was hampered by lack of access to machinery and equipment due to international sanctions which were lifted over a year ago.

Discovered in 1968, the Kish field is located 30 kilometers east of Lavan Island in the Persian Gulf. It holds an estimated 1.3 trillion cubic meters of natural gas in place and more than 500 million barrels of gas condensate, an ultra light grade of oil.

Kish field is planned to be developed in five phases. It is the second biggest gas field in the Persian Gulf after the giant South Pars field shared by Iran and Qatar, according to Financial Tribune.

NIOC Iran gas Iran gas field Iran's Kish