Azerbaijan, Baku, May 4/Trend M. Moezzi
The director for coordination and supervision at the National Iranian Gas Company (NIGC) says his company has made the preparations needed to receive Phases 15 and 16 of Iran's joint South Pars oil and gas field as scheduled.
NIGC has trained 500 employees for work on the two phases, the Iranian Students' News Agency (ISNA) reports Mehdi Jamshidi Dana as saying.
According to the project's schedule, drilling of Phase 15 wells should have been finished by late March and work on Phase 16 wells is to start this summer.
In the summer of 2006, the Iran Revolutionary Guard Corps' Khatam al-Anbiya Construction Headquarters signed a $2.96 billion (USD) contract to develop Phases 15 and 16. Khatam al-Anbiya is also responsible for the onshore portion of building the refinery for the two phases while the Iranian Offshore Engineering and Construction Company (IOEC) has been assigned the offshore work.
Once they are operational, Phases 15 and 16 are expected to produce 50 million cubic meters of natural gas and 80,000 barrels of gas condensates a day.
The revenues generated by the two phases are projected to stand at $3 billion.