Iran’s oil minister says the status of phase 11 of the South Pars Gas Field as well as Farzad B Gas field will be settled this year.
Bijan Namdar Zanganeh said part of Phase 11 is expected to enter service by September 2021.
“From now on, we plan to sign one contract and set in motion one development plan every two weeks and we will show that the development of the country’s oil industry has not stopped under sanctions,” said he minister in a ceremony where a contract was signed between the Belal Gas Field with the Iranian Petropars company.
Pars Oil and Gas Company (POGC), a subsidiary of the National Iranian Oil Company (NIOC), finalized a $440m deal with Petropars Company on Saturday for developing Belal Gas Field in the Persian Gulf.
Based on the deal, Pars Oil and Gas Company (POGC) will serve as the employer of the contract and will carry out reservoir studies and arrange sideline licensing rounds for the purposes of the project. Accordingly, the company is required to tap the capabilities of local manufacturers and contractors.
For its part, the contractor of the project, Petropars, is required to drill 8 wells in the offshore field, launch wellhead jackets and build and install a topside with 500 mcf/d of gas production capacity as well as a seabed pipeline with an estimated length of 20 kilometers.
Belal Gas Field is located east of South Pars in the Persian Gulf and 90 km southwest of Lavan Island.
Iranian Foreign Ministry Spokesman has strongly condemned an Israeli cabinet minister’s statement regarding the annexation…
Iran’s interior minister issues a stark warning about the aging population of the country if…
Iranians are still reeling from the murder of a heart specialist in the country where…
The first autumn snow has whitened the heights of northeastern Tehran.
An Iranian official has announced that four mercenary terrorists affiliated with the Zionist regime were…
The United States will not change its policy on weapons transfers to Israel even though…