SP phases 20 & 21 development contract to be inked

TEHRAN, May 29 (MNA) – The National Iranian Oil Company and the Oil Industry Engineering and Construction Company will sign a contract tomorrow to develop phases 20 and 21 of the South Pars gas field.

Phases 20 and 21 of South Pars gas field are projected to produce 50 million cubic meters of gas, 80,000 barrels of gas condensates, and 400 tons of sulfur per day, in addition to 1 million ton of ethane, and 1.5 million tons of liquid propane per year, the Mehr News Agency reported on Friday.

 

Pars Oil & Gas Company Managing Director Ali Vakili had previously said that a consortium led by Iranian companies will implement the project.

 

The two mentioned phases would come on stream at an estimated cost of $5 to $5.5 billion.

 

Refineries for these phases will be constructed in the second site of Pars Special Economic Zone, near Kangan port, in southwestern Bushehr province.

 

South Pars field is a gas condensate field located in the Persian Gulf. It is the world’s largest gas field, shared between Iran and Qatar.

 

This gas field covers an area of 9700 square kilometers, of which 3700 square kilometers (South Pars) is in Iranian territorial waters and 6000 square kilometers (North Dome) is in Qatari territorial waters.

 

MF/MRK

END

MNA

News Code 34013

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