Jun 24, 2006, 5:39 PM

Contract for SP phases 15, 16 to be signed June 25

TEHRAN, June 24 (MNA) -- The National Iranian Oil Company and the Khatam al-Anbiya Reconstruction Headquarters are scheduled to sign a $2.098 billion contract on development projects for phases 15 and 16 of the South Pars (SP) gas field on Sunday.

Khatam al-Anbiya is financing the project, for which tender formalities were waived.

The company plans to launch the construction operations for SP phases 15 and 16 in the near future.

Pars Oil and Gas Company managing director Akbar Torkan had previously announced that the development project for phases 17 and 18 of the giant gas field will also be implemented based on the finance system.

FK/HG

END

MNA

News ID 17632

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