Total, Eni, Hyundai want involvement in South Pars Phase 11

Baku, Azerbaijan, Sept. 23

By Dalga Khatinoglu – Trend:

France’s Total wants to get involved in the sole undeveloped phase of Iran’s South Pars, the Phase 11, Ali Kardor, managing director of National Iranian Oil Company, told Mehr Sept. 23.

He added that aside from Total, Italy’s Eni and South Korea’s Hyundai are keen to get involved in the project.

Kardor said the Phase 11 will be offered to foreign companies based on new designed oil contract model, called the Iran Petroleum Contract (IPC).

Iran wants to issue tenders for 49 oil and gas fields based on IPC. The first tender will be issued in October, most probably for development of Azadegan oil field.

Total is currently studying the reserves of South Pars gas field based on a confidentiality agreement to collect information about the ways of preventing pressure fall in coming years.

South Pars is a joint field between Iran and Qatar. Its Iranian side contains 18 trillion cubic meters of gas.

Currently, Iran has a capacity to produce 430 million cubic meters per day (mcm/d) of gas from South Pars and the figure is expected to exceed 700 mcm/d by 2021 after full commencement of all the 24 phases. However, the pressure in the reservoir is expected to fall in 2023.

Phase 11 is projected to produce 50 mcm/d of gas. Iran has announced that the development of Phase 11, including drilling of 22 wells, will be entrusted to domestic companies.

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