News Code: 3077

Date of Release: 2020-03-04

SP Phase 11 development to start soon: Official

Development operations of South Pars Gas Field’s Phase 11 will start in the near future, said the National Iranian Oil Company (NIOC) deputy director for development and engineering affairs. “The installation operations of the first jacket of SP Phase 11 will begin in the coming weeks,” Reza Dehqan said, reported Shana. The development operation at […]

Development operations of South Pars Gas Field’s Phase 11 will start in the near future, said the National Iranian Oil Company (NIOC) deputy director for development and engineering affairs.

“The installation operations of the first jacket of SP Phase 11 will begin in the coming weeks,” Reza Dehqan said, reported Shana.

The development operation at Balal and Farzad joint fields has also begun, he said, adding that the development projects of other joint fields including Azadegan, Yadavaran, and Yaran in West Karoun region are on agenda.

Dehqan further pointed out that the NIOC has so far signed five IPC-based deals with domestic companies for development of the country’s oilfields, adding that the sixth is ready to be signed.

The official added that due to the coronavirus outbreak the signing ceremony for the sixth contract has been postponed and the company will go through with it in the near future.

He also said over the past three years, the development of 10 fields was awarded to domestic companies and a total of $10 billion in upstream contracts was signed.

Dehqan referred to the NIOC’s maintenance and recovery projects and said these projects which include engineering, procurement, and construction (EPC) and engineering, procurement and drilling (EPD) deals are going to be handed over in the framework of 33 projects.

The NIOC signed a contract with Total in 2017 for developing Phase 11 of South Pars Gas Field (shared with Qatar) with an initial investment of $1 billion.

The company was pressured to leave Iran after the United States threatened to impose sanctions on companies that do business in the country.

Later, Iran awarded the project to CNPC which was part of the consortium that was first supposed to carry out the project.

The Chinese company, however, did not go on with the project and left the contract like the French party and Itan’s Petropars is now in charge of the phase development project.

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