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.
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.
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