Gulf Oil and Gas accountACCOUNT

$30b Needed for 2nd Phase of South Pars Development

Source: www.gulfoilandgas.com 5/7/2017, Location: Asia

Iran says will need 30 billion dollars in new investments for carrying out the second phase of South Pars gas field development.

Managing Director of the National Iranian Oil Company (NIOC) Ali Kardor said on Saturday that the second development phase of the massive gas field would be primarily focused on planning and technology transfer to maintaining production level of the field by tapping enhanced recovery methods.

Addressing a press conference on the sidelines of the 22nd Iran Oil Show, the official said all phase development projects of the gas field, shared with Qatar, except for SP. 11 will complete in a matter of a year.

“Fortunately, Iran’s gas output from the field has reached that of Qatar and we hope our production capacity will reach Qatar’s within the next few months,” he said.

Kardor also said that phases II and III of Bandar Abbas Gas Condensate Refinery, developed by Persian Gulf Star Refinery, will most probably come online by next year.

“Once Siraf Condensate Refinery Project comes online, Iran will have no gas condensate left for export,” he added.

He announced that Iran’s oil production capacity has crossed 4 million barrels per day.

Elsewhere in his remarks, he said 7 proposals by international companies have so far been submitted to NIOC for development of oil projects in Iran.

Kardor said the proposals have been handed in by companies like Pertamina, Lukoil, CNPC, Total and Inpex.

Several work packages have been provided in the framework of EPCF deals for developing the projects which will provide for great opportunities for Iranian contractors.

Investment News in Iran >>

United Kingdom >>  7/9/2020 - Pale Blue Dot is pleased to announce a corporate restructure that will see Storegga Geotechnologies become the new holding company for the Scottish ba...
India >>  7/7/2020 - bp has announced its intention to invest into the Green Growth Equity Fund (GGEF) in India. The fund, established in 2018, is focused on identifying, ...

Mozambique >>  7/3/2020 - The Japanese government and business sector will join hands on a joint financing deal totaling 1.5 trillion yen ($14.4 billion) for the development of...
Qatar >>  6/29/2020 - Qatar Petroleum announced the commencement of ‘In-Country Value’ evaluation in the energy sector tenders from July through “Tawteen”, the localisation...

Tanzania >>  6/29/2020 - Solo, the AIM investing company targeting attractive production and development opportunities within the European gas market, is pleased to announce t...
Taiwan >>  6/25/2020 - Following the signing of the early works agreement in April 2020, CSBC-DEME Wind Engineering (CDWE) has now taken the Final Investment Decision (FID)...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Iran Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 |

Oil & Gas Projects in Iran >>

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.