S. Pars Comes Onstream

South Pars phases 2 and 3 came onstream off Iran in the Persian Gulf. Operator TotalFinaElf, Gazprom, and Petronas expect the $2 billion project in 70 meters water depths to plateau production of 2 Bcf/d of gas and 80,000 b/d of condensate from 20 wells tied to two unmanned platform.

TFE holds 40% interest, Gazprom has 30%, and Petronas holds 30%.