18 April 2018 - 17:57
  • News ID: 282245
Total holds workshop on SP11 Offshore Platform Installation

TEHRAN (Shana) -- France's Total held a technical workshop on installation and operation of offshore platforms in Iran.

The technical workshop of Total Company, held on Wednesday, was organized with senior operators, executives and representatives of South Pars development projects at Pars Oil and Gas Company.

Total and the National Iranian Oil Company (NIOC) have signed a 20-year contract for the development of and production from Phase 11 of the South Pars gas field in the Persian Gulf.

The facilities will have a production capacity of 2 bcf/d, or 400,000 boe/d including condensate. Produced gas will supply the Iranian domestic market from in 2021.

This is the first signing under the new Iranian Petroleum Contract (IPC), and is based on the technical, contractual, and commercial terms outlined in the heads of agreement signed last November.

Total is operator of the SP11 project with a 50.1% interest, in partnership with Chinese state-owned oil and gas company CNPC (30%), and NIOC subsidiary Petropars (19.9%).

News ID 282245

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