Aug 21, 2017, 6:04 PM
News Code: 82638926
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Int'l consortium starts operations to develop S. Pars phase 11

Tehran, Aug 21, IRNA – The international consortium has equipped operational workshops to develop South Pars phase 11, Deputy Head of South Pars Oil and Gas Field for development projects said.

Morteza Zarrin Gol made the remarks Monday while visiting South Pars gas condensates installations.

National Iranian Oil Company (NIOC), Total, CNPC and Petropars on Monday, July 3, signed a 4.8-billion-dollar contract for development of South Pars Gas Field phase 11.

Total will operate the SP11 project with a 50.1 percent interest, while Iranian Petropars Company and the Chinese CNPC will have a share of 19.9 and 30 percents, respectively.

Phase 11 project has two platforms with a capacity of 28 million cubic meters per day, Total's quota is 50.1% and CNPC and Petropars have 30% and 19.9%, respectively.