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President Khatami inaugurates Phases II and III of South Pars

Bushehr, Feb 15, IRNA -- President Mohammad Khatami inaugurated the second and third phases of the South Pars development projects in Assalouyeh in the southern province of Bushehr on Saturday.

During a special ceremony, attended by Iranian and foreign experts, Khatami unveiled the memorial plaque of the second and third Phases of the South Pars gas field.

The second and third phases of the South Pars development projects are among the main oil and gas projects to become operational during the president's current visit.

President Mohammad Khatami arrived in Assalouyeh in the southern province of Bushehr on Saturday to inaugurate several major oil and gas projects of the South Pars.

Khatami was welcomed at Assalouyeh airport by the representative of the Valiy-e Faqih (religious jurisprudent) in Bushehr province, the provincial governor general and a number of local officials.

The ministers of oil, labor and social affairs, governor of the Central Bank of Iran (CBI), director of the Petrochemical Company, members of the Majlis Energy Commission and a number of Iran-based foreign representatives are accompanying the president during his one-day visit to Assalouyeh.

Khatami will inspect the latest progress achieved in the South Pars gas field development projects. He will also be briefed on the current problems facing people in Bushehr province.

The first stage of the Phase I of the South Pars gas field will come on stream by this March with a daily production capacity of 500 million cubic feet.

The development projects of the Phase I will finish in June. The total gas output of the Phase - estimated at one billion cubic feet natural gas per day - will be used for domestic demands.

One billion cubic feet of gas as well as 40,000 barrels of gas condensates and 200 tons of sulfur will be produced per day for export once the Phase I is fully implemented.

The South Pars gas field, which straddles the Iranian and Qatari sectors of the Persian Gulf, is the largest gas field in the world and belongs to both Iran and Qatar.

The daily production of Iran's South Pars gas field, once all of its 12 development phases are complete, will hit 300 million cubic meters thus pushing up the annual revenues from the field to about US dollars 2.8 billion.

The Italian Agip company has contracted US dollars 809 million of projects, much more than its commitments, to Iranian enterprises in developing the South Pars gas field.

The Agip, as the operator of development projects in the phases four and five of the field, is basically supposed to use Iranian labor and facilities at as much as 40 percent of the total amount of the contract, equal to dollars 771 million.

The Agip has provided more share for Iranian enterprises in the projects.

The marine facilities of the projects are completely provided by the Iranian Sadra Company, and Ahvaz Pipes Production Company also manufactures all the offshore and onshore pipes for the projects.

The Agip, the upstream company under the ENI, is committed to supporting 60 percent of the capital required for the phases.

The Italian enterprise is also responsible for providing a certain share of financial support for the Iranian Petropars and Nikoo companies if they hit a deficit.

... Payvand News - 2/15/03 ... --

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