Publish Date: 13 July 2005 - 22:51

TEHRAN, July 13 (MNA) — Petropars Oil Company has successfully completed the installation of 370-ton metal cover for the liquefied natural gas (LNG) reservoir of the development phases 6,7 and 8 located in the South Pars Oil and Gas Field.

The spherical (sector) cover is 15 meters long and is to be welded to the attachments on the concrete body of the reservoir at a height of about 37 meters. Three of such reservoirs are to be made in the South Pars development phases 6, 7 and 8. The installation of one of them has so far been successfully completed.

 

The gas project developed in the Assaluyeh region is considered to be one of the largest of its kind, Iranian Students News Agency (ISNA) said.

 

In another development, preliminary steps have been taken to implement the development plan of South Pars phases 17 and 18, Petroenergy Information Network reported. “The operations will start as soon as the project financer is introduced”, said Behruz Seddiq, project commissioner of South Pars phases 17 and 18, adding that the project financer has already been identified and selected.

 

He noted that the advance payment for the start of the project has been put at about 50 million dollars and the project is expected to conclude some 52 months after its initiation.

 

He also explained that the consortium developing the phases is currently supplying the required manpower and is trying to choose the consultant companies.

 

On June 12, National Iranian Oil Company (NIOC) signed a 2.04-billion dollar agreement with a consortium comprising of Petropars, Oil Industries Engineering and Construction Company (OIEC), and Iranian Offshore Engineering and Construction Company (IOEC) to develop phases 17 and 18 of South Pars gas field.

 

With Petropars leading the project, the three companies’ shares in the contract is said to be at about 50 percent for OIEC, 29 percent for Petropars and 21 percent for IOEC.

 

Total value of the contract stands at 2,049,240,740 dollars with a liability ceiling of up to 100 percent.

 

The National Iranian Oil Company will finance the project and the costs would be returned through exports of liquefied natural gas and gas condensate.

 

RA/ML

END

 

MNA