Ministry of Petroleum announced that it had succeeded to sign 37.9 billion dollars worth of contracts during the said 18 months.

The following is a brief report on those contracts:

National Iranian Oil Company

During the past 1.5 years, that is, between September 2005 and March 2007, the National Iranian Oil Company has signed more than 17 billion dollars worth of contracts including:

-          Development contract for phases 15 and 16 of South Pars gas field worth 2.72 billion dollars with a consortium comprising Khatam-ol-Anbia Reconstruction Headquarters, Iran Offshore Engineering and Construction Company, ISOICO, and Offshore Industries Company (SAF).

-          Development contract for phases 17 and 18 of South Pars gas field worth 3.055 billion dollars with a consortium comprising Iran Offshore Engineering and Construction Company and Industries Development and Renovation Organization.

-          Contract for construction of a power plant in South Pars region worth 340 million dollars.

-          Contract for building Bidboland 2 gas refinery worth 2.177 billion dollars with National Iranian Gas Company and Petropars Company as project manager.

-          Contract for development of the first phase of Azadegan oil field worth 1.943 billion dollars with NICO Company and Japan"s INPEX enjoying respective shares of 90 percent and 10 percent.

-          Contract for collecting associated gas in Kharg region and building a liquefied gas plant worth 1.535 billion dollars with a consortium comprising IRITEC and IRASCO companies.

-          Contract for development of Resalat and Reshadat oil fields worth 740 million dollars.

-          Contract for simultaneous exploration and development of Caspian Sea oil and gas blocks worth 476 million dollars.

-          Contract for simultaneous exploration and development of Garmsar and Khorramabad oil and gas blocks worth 66 million dollars.

-          Contract for development of the country’s drilling fleet worth 500 million dollars with National Iranian Drilling Company.

-          Contract for converting fuel system of 1.5 cars to natural gas and building 850 CNG fuel stations worth 1.356 billion dollars.

-          Appendix to contract for buyback gas supply project worth 536 million dollars.

-          Contract for gas supply to 9,000 villages (the third gas supply buyback contract) worth 1.7 billion dollars.

National Iranian Gas Company

Total value of contracts: 7.469 billion dollars.

According to the report released by the Ministry of Petroleum, most contracts wroth over 17 billion dollars have been signed by the National Iranian Oil Company. However, the National Iranian Gas Company has also signed a considerable sum of contracts. During the past 1.5 years, the National Iranian Gas Company has concluded 7.469 billion dollars worth of contracts including:

-          Contract for construction of Bidboland 2 refinery.

-          Contract for the 7^th cross-country gas pipeline.

-          Contract for construction of the fifth cross-country gas pipeline including implementation of the project.

-          Contract for construction of a pipeline from Assaluyeh to Fajr refinery including implementation of the project.

-          Contract for purchasing equipment for the fifth cross-country gas pipeline.

-          Contract for construction of stations along the fourth cross-country gas pipeline.

-          Contract for construction of a pipeline from Saveh to Hamedan.

-          Contract for construction of north and northeast pipelines including implementation of the project.

-          Contract for purchasing equipment for north and northeast pipelines.

-          Contract for construction of the eighth cross-country gas pipeline.

-          Contract for building a gas compression station in Saveh.

-          Contract for building two gas compression stations of Shahid Mohammadi and Shahid Mostafavi.

-          Contract for construction of Tabriz –Miyandoab gas pipeline including implementation of the project.

-          Contract for construction of 20-inch gas pipeline from Duzduzan to Ahar.

-          Contract related to gas refining companies.

-          Contracts signed by provincial gas companies.

-          Natural gas storage.

-          And other subsidiary contracts signed worth a total of 68,717,645 million rials. If every dollar is taken as equivalent to 920 tomans, then total worth of contracts signed by the National Iranian Gas Company would amount to 7.469 billion dollars.

National Petrochemical Company

Total value of contracts: 5.462 billion dollars.

There has been considerable rise in contracts signed by the National Petrochemical Company during the past 1.5 years to a total value of 5.462 billion dollars. According to the Ministry of Petroleum’s report, the contracts included:

-          Olefin 13 contract worth 281 million dollars.

-          NEG contract of Kharg worth 346 million dollars.

-          HD contract of Kermanshah worth 403 million dollars.

-          NF contract of Bandar Imam worth 215 million dollars.

-          HD/LLDPE contract of Mahabad worth 487 million dollars.

-          ABS contract of Tabriz worth 8 million dollars.

-          West Ethylene Pipeline contract worth 288 million dollars.

-          Contract for development of oxygen production unit of Mobin Petrochemical Complex worth 123 million dollars.

-          Contract for development of electricity unit of Mobin Petrochemical Complex worth 112 million dollars.

-          Contract for electricity supply to phase 2 of Assaluyeh petrochemical projects worth 1,074 million dollars.

-          Contact for water supply to Fajr 2 petrochemical plant worth 82 million dollars.

-          Contract for power supply to Fajr 2 petrochemical plant worth 256 million dollars.

-          Offsite contact of phase 2 of Assaluyeh petrochemical projects worth 42 million dollars.

-          Olefin 11 (Kavian Petrochemical Complex) contract worth 960 million dollars.

-          Olefin 5 (Morvarid Petrochemical Complex) worth 352 million dollars.

-          Contract for construction of urea and ammonia plant of Shiraz worth 411 million dollars.

-          Contract for construction of infrastructural facilities of Assaluyeh worth 22 million dollars.

National Iranian Oil Refining and Distribution Company

According to current plans, when development plans for various refineries are completed and a few new refineries are built, domestic gasoline production will hit 160 million liters per day. Therefore, most investments made in the National Iranian Oil Refining and Distribution Company during the past two years pertained to development and renovation of old refineries and construction of new refineries.

According to Ministry of Petroleum’s report, during the past 1.5 years, a total of 7.74 billion dollars has been invested in development and quality improvement at Abadan, Bandar Abbas, Arak, Isfahan, Tabriz, Tehran and Lavan refineries as well as construction of a new gas condensate refinery in Bandar Abbas.