SP Phases 15 and 16 Physical Progress 47 Percent

Director of South Pars gas field phases 15 and 16 says the phases have progressed physically by 47 percent noting that 375 million Euros from the sale of euro bonds to develop the South Pars gas field have been allocated to phases 15 and 16.

In an interview with Shana news service, Abolghasem Nobakhti said that up to now 750 million euro bonds for development of South Pars gas field have been sold and the raised funds have been divided equally between two ongoing projects in the field, 15 and 16 phases from one hand and 17 and 18 phases from the other.

Noting that total physical progress of the phases 15 and 16 have been 47 percent, Mr. Nobakhti said that physical progress in offshore platforms (jacket and top side) is 41.2 percent, laying pipeline 62 percent, building refinery 49 percent and drilling 34 percent.

On the funding of the project, director of the South Pars gas field phases 15 and 16 said that fortunately as of late last year, the project has been faced with no problem to provide money and based on the planning it is slated more funds to be injected to the project on a monthly basis.

Noting that 6000 people are working in the development plan of the phases 15 and 16, Mr. Nobakhti stated that the workforce of the phases will mount to 16 thousand on the peak season of the activity later this year.

Director of the phases 15 and 16 reiterated that some changes in the consortium leading the phases have not affected the project negatively and programs are going ahead on schedule. Recently Khatam-Ol-Anbia Costruction Headqarters withdrew from developing the phases 15 and 16.

According to Nobakhti part of the financial needs of the phases 15 and 16 are being provided by specialized energy investment funds and offering bonds, so some changes in the combination of the consortia can not affect the project negatively.

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