Iran to keep South Pars phases in-house

National Iranian Oil Co. (NIOC) plans to award further contracts for the South Pars development in the Persian Gulf this week.

Offshore staff

TEHRAN, Iran -- National Iranian Oil Co. (NIOC) plans to award further contracts for the South Pars development in the Persian Gulf this week.

All will be awarded to domestic companies, according to Iranian news service Shana.

Industrial Development and Renovation Organization will secure a $5-billion contract to develop Phase XIII, which will provide supplies for the planned Persian LNG project.

Phase XIX, also valued at $5 billion, will go to Petropars Co., with a production target of 50 MMcf/d of gas.

Another Iranian company should win phase XIV, while a consortia of companies will be awarded phases XXII through XXIV, designed to deliver collectively 40 MMcf/d. Here too the contract value is $5 billion.

Javad Oji, Iran’s deputy minister of Petroleum in Gas Affairs, said Iran’s current offshore and onshore gas production was around 600 MMcm/d (21.2 tcf/d). The new phases of South Pars would push this figure up to 900 MMcm/d (31.8 tcf/d) in the next three years, he added.



06/14/2010

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