An agreement was inked on Saturday afternoon
on construction of an onshore refinery related to development phases
6,7, and 8 of the South Pars gas field in presence of Oil Minister
Bijan Namdar Zanganeh and a number of domestic and foreign officials
and experts, IRNA reported from Tehran.
The agreement is part of the development project of South Pars gas
field signed by South Pars Company and a foreign consortium consisting
of Toyo Engineering Corporation from Japan.
The contract is worth dlrs 1.207 billion. The whole project will
become operational within 43 months while the first phase of the
project will be completed in 34 months.
The total daily gas production of phases 6,7, and 8 of the South
Pars project will be 3TCF.
The consortium, with which the accord has been signed comprises
Japan Gasoline Company (JGC) and Toyo Engineering Corporation from
Japan, Dailem from South Korea, and the Industrial Development and
Renovation Organization (IDRO) from Iran.
The shares of Toyo and IDRO in the refinery project will be 28
percent, while those of JGC and Dailem will be 22 percent each.
The consortium is committed to carry out at least 51 percent of
the activities of the project in Iran by making use of the facilities
provided by domestic enterprises.
Some 2.8 billion cubic feet of methane gas, 120,000 barrels of
gas condensate and 3,700 tons of liquefied gas make up the daily
production of the refinery.
The gas condensate and the liquefied gas will be exported via
special jetties at Assalouyeh port. The exported gas are expected to
fetch some dlrs one billion a year.
The phases 6,7, and 8 of the South Pars project includes both
marine installations and onshore pipelines.
... Payvand News - 5/18/03 ... --
