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Iran debars Korean company from participation in South Pars project

Oil&Gas Materials 2 July 2010 18:42 (UTC +04:00)

Azerbaijan, Baku, July 2 / Trend /

National Iranian Oil Company debarred the South Korean company GC from participation in the development of the sixth-eighth phase of the project South Pars, MEHR agency reported.

According to the report, a project worth 1.2 billion euros was transferred to the company GC 10 months ago. The Iranian Oil Company said that the company GC was debarred from participation in the project "South Pars" in connection with the failure to fulfill obligations. Development of the sixth-eighth phase of the project South Pars will be transferred to other foreign and local companies. Until recently, the company GC participated in the development of the ninth and tenth phase of the project South Pars.

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