Contracts for South Pars gas field pressure-boosting project signed

SHANA (Tehran) – Pars Oil and Gas Company (POGC) and several Iranian companies signed contracts on Sunday to carry out a pressure-boosting project in the joint South Pars (SP) gas field in the Persian Gulf.

The contracts for the most strategic plan were inked in the presence of Oil Minister Javad Owji and National Iranian Oil Company (NIOC) Managing Director Mohsen Khojastehmehr in Tehran.

Based on the contracts, $20 billion will be invested in the project to extract 90 trillion cubic feet of gas and two billion barrels of gas condensates, which will generate $900 billion in revenue.

Petropars, Oil Industries Engineering and Construction (OIEC), Khatam al-Anbiya Construction Headquarters, MAPNA Group, and a consulting company are the Iranian contractors of the megaproject.

The world's biggest gas field is shared between Iran, which calls its share South Pars, and Qatar, which calls it North Field, also known as North Dome.

Qatar is also installing platforms to boost pressure in the field.

News ID 638969


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