The agreement, involving the National Iranian Oil Company (NIOC), was signed with Petropars, Khatam al-Anbiya Construction Headquarters, Oil Industries Engineering and Construction (OIEC), and MAPNA.

The pressure boost plan for the shared South Pars gas field aims to address declining pressure, maintain maximum gas production, reduce gas and gasoline imbalances, and prevent gas migration to Qatar from the shared field. With the signing of the contracts, the project has entered its operational phase.

The $17 billion project is expected to enhance the country’s energy security while creating direct employment for 17,000 people and indirect employment for 50,000 others.

According to the plan, the South Pars field will be divided into seven pressure boost hubs, with approximately 60,000 tons of structures to be built for each hub. In total, 420,000 tons of structures will be constructed, with 70% of the required materials sourced domestically.

The signing of these contracts marks a new phase for Iran’s oil industry in the sustainable exploitation of the world’s largest gas field, playing a crucial role in ensuring stable gas supply and driving the country’s economic development.