The contract, which has been valued at $3.8 billion including capital costs, finance charges and remuneration, was signed in 2000 with a target of producing gas from September 2004. The development of the South Pars field in the Persian Gulf has been divided into 25 phases.
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Iran to Speed Up Development
$3.8 billion project gets a boost...
The State National Iranian Oil Company (NIOC) has given the go-ahead to Eni Iran to speed up the development of phases 4 and 5 of the country?s giant South Pars gas field, according to the managing director of the Pars Oil and Gas Company.
Assadollah Salehiforouz was quoted as saying that Eni Iran will save US$300 million by accelerating the project?s development. "According to the schedule offered by the contractor of Phases 4 and 5, the four gas distillation units should operate this year," he said. "So far, utility services for Phases 4 and 5 including two power generators, two steam boilers, water distillers and air compressors have been launched."
Eni is the operator of Phases 4 and 5 with a 60% stake while Petro Pars and state-owned NaftIran Intertrade Company each have a 20% share.
The contract, which has been valued at $3.8 billion including capital costs, finance charges and remuneration, was signed in 2000 with a target of producing gas from September 2004. The development of the South Pars field in the Persian Gulf has been divided into 25 phases.
The contract, which has been valued at $3.8 billion including capital costs, finance charges and remuneration, was signed in 2000 with a target of producing gas from September 2004. The development of the South Pars field in the Persian Gulf has been divided into 25 phases.
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