1 September 2019 - 13:54
  • News ID: 292699
Iran to Begin SP.11 Development before March 2020: Official

TEHRAN (Shana) -- An official with the National Iranian Oil Company (NIOC) said that the development project of South Pars Phase 11 would commence this calendar year, which ends on March 20.

Reza Dehghan, NIOC deputy director for development and engineering affairs, said that talks were continuing with CNPC International for implementing the project.

CNPC International is one of the two members of a consortium to develop the project along with Iran’s Petropars. France’s Total was also in the consortium before it pulled out of the project due to US sanctions on Iran’s oil industry.

“Arrangements have been made to begin developing the project this [calendar] year under any circumstances. We will be able to speak more definitely in two months,” he told Shana.

The official said he would disclose more information about the project in the coming weeks, adding that the capabilities of Iranian companies were incomparable with the time South Pars development had started back in 2002.

“Undoubtedly, Petropars has the qualities needed for developing the first phase of the project.”

Aban and West Paydar

Dehghan said that the contract for developing Aban and West Paydar oilfields was progressing and so far, 4 joint management committees had been held concerning the projects.

He further said that the Supreme Economic Council had signed off on developing Sepehr and Jofeir fields and implementation of their contract would start within days. Moreover, contracts of Cheshmeh Khosh, Dalperi and East Paydar fields would be enforced this calendar year and their development would begin afterwards.

Talks on the Go

Dehghani said that NIOC’s talks with domestic and foreign companies were continuing despite US’s withdrawal from the Joint Comprehensive Plan of Action (JCPOA), a nuclear deal Tehran struck with the P5+1 group of countries back in 2015.

In the calendar year of 1397 which ended on March 20 2019, NIOC signed a total of 12 study MoUs with Iranian and foreign companies, which would lead to signature of several contracts by the end of this calendar year, he added.

The official said studies valued at roughly $150 million were being carried out for NIOC under the over 100 MoUs it signed with numerous companies in the aftermath of the nuclear deal.

News ID 292699


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