Phase 11 offshore to be developed independently

TEHRAN Nov 1 (Shana)–National Iranian Oil Company (NIOC) has decided to assign the development of the offshore sector of Phase 11 of South Pars gas field independently to an Iranian or foreign contractor, managing-director of Pars Oil and Gas Company said.
Ali-Akbar Shabanpour said the decision to develop the offshore section was taken due to the priority of this sector to its onshore sector.
 
He said that offshore development of Phase 11 would produce gas to be processed by refineries at Pars Special Economic Energy Zone.
 

Development of the upstream section of Phase 11 of South Pars was awarded to France’s giant Total (40%) and Malaysia’s Petronas (10%) in 2000.

Total dragged its feet on the project after steel prices jumped in the world in 2006. NIOC finally cancelled the contract with the French company.

By SHANA

 

The Iran Project is not responsible for the content of quoted articles.