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Contract to be signed on eleventh phase of Iran's South Pars gas field

Oil&Gas Materials 25 January 2021 17:53
Contract to be signed on eleventh phase of Iran's South Pars gas field

BAKU, Azerbaijan, Jan. 25

By Elnur Baghishov – Trend:

A contract will be signed between Iran's Petropars Operation and Management Company (POMC) and Luleh Gostar of Esfarayen Company (LGE) on the development of the 11th phase of the Iran-Qatar joint South Pars gas field (called North Dome in Qatar) in coming days, the Executive Director of the POMC, Hamidreza Masoudi told Shana news agency, Trend reports.

The director stressed that the value of the contract will be 3.9 million euro.

Masoudi added that Luleh Gostar of Esfarayen Company will supply the casing pipes of the 11th phase of the South Pars gas field.

Today, on Jan. 25, Iran's Petropars Operation and Management Company signed a contract worth 6.5 million euro with Luleh Gostar of Esfarayen Company for the production of casing pipes for the Forouzan oil field.

The South Pars gas field (called North Dome in Qatar) is a joint gas field of Iran and Qatar. The proven reserves of the South Pars Gas Field are estimated at 51 trillion cubic meters of gas, of which 36 trillion are extractable. Iran has so far spent $80 billion on projects of the South Pars gas field.

Iran extracted 570 million cubic meters of gas per day from this field in the last Iranian year (from March 21, 2019, to March 20, 2020).

The South Pars gas field has the potential to produce daily 700 million cubic meters of gas and Iran is currently extracting 630 million cubic meters of gas per day from the gas field.

France's Total and China's CNPCI companies have refused to operate in the 11th phase of the South Pars gas field as a result of US sanctions against Iran. According to this, the operations in this phase were fully entrusted to the Petropars Operation and Management Company (POMC).

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