53120
Int'l Consortium  to Develop  SP Phase 11
Int'l Consortium  to Develop  SP Phase 11

Int'l Consortium to Develop SP Phase 11

Int'l Consortium to Develop SP Phase 11

The National Iranian Oil Company is expected to sign an agreement today with a consortium of companies including the China National Petroleum Corporation International, France's Total and Petropars Company on developing South Pars Phase 11. According to Mehr News Agency, the contract will be signed in the presence of Oil Minister Bijan Namdar Zanganeh in Tehran. According to Zanganeh, Phase 11 is the only phase in the South Pars Gas Field, the world’s largest gas field shared between Iran and Qatar, which has not been developed yet due to past procrastinations. NIOC and France’s Total S.A. struck a deal in 2000 to develop the Phase 11 upstream sector. However, the French energy giant—highlighting oil and trade sanctions imposed on Iran as a hurdle—ultimately scrapped the project. CNPC also had signed a contract to develop the field, but it was booted in July 2012 after failing to meet its contractual obligations. Commenting on agreements to develop the South Pars megaproject, Zanganeh noted that all other phases, namely 17-24, are under development with the help of Iranian contractors.

Short URL : https://goo.gl/FROx2h
  1. https://goo.gl/TVjRur
  • https://goo.gl/xyQVDn
  • https://goo.gl/hNjcnj
  • https://goo.gl/ZFG26d
  • https://goo.gl/LINhrX

You can also read ...

Venezuela Oil Sales to China Set to Plunge to 8-Year Low
Venezuela’s economic and oil industry demise is likely to...
Oil prices fell on Monday after China threatened duties on American crude imports in a trade dispute with Washington.
China’s threat to impose duties on US oil imports will hit a...
Equinor Awards $3.7b Service Deals
Norwegian oil and gas firm Equinor has awarded drilling and...
OPEC members are to meet on  June 22-23 in Vienna.
Iran says Venezuela and Iraq will join it in blocking a...
Masjed Soleyman petrochemical project's Phase 1 construction site
The construction operation of the mega petrochemical project...
Hamedan Power Plant  Cuts Gas Consumption
Shahid Mofatteh Power Plant in Hamedan Province has scaled...
Strengthening Local Enterprises Should Be NIOC Priority
The National Iranian Oil Company needs a policy paradigm shift...

Comments

Why there's no mention to the IPC?! This is the first contract awarded to foreign companies within the framework of IPC..

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus