Iran’s NIOC blames contractors for delay in South Pars gas project

Oil&Gas Materials 15 October 2012 19:32 (UTC +04:00)

Azerbaijan, Baku, Oct.15/ Trend G.Mehdi/

The National Iranian Oil Company has blamed some domestic contractors for not fulfilling their obligations in the development of the South Pars gas field, ISNA reported on Monday.

Iran has invested some $5 billion in the South Pars gas field development projects, ISNA quoted Deputy Oil Minister Mohsen Khojasteh-Mehr as saying.

"Totally, $21 billion is planned to be invested this calendar year, which began on March 20, in the South Pars projects," he added.

NIOC head Ahmad Qalebani has said that the progress of work in some phases of the South Pars is not satisfactory and is not proportional to the amount of money which has been invested.

Last year, around $20 billion were allocated for the purpose, Jahanara added, the Shana News Agency reported.

The South Pars gas field is shared by Iran and Qatar. The Iranian share, which is divided into 29 phases, has about 14 trillion cubic meters of gas, or about eight percent of the total world reserves, and more than 18 billion barrels of liquefied natural gas resources.