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Oil giants eye Iran's South Pars projects

TEHRAN, April 3 (Mehr News Agency) - Giant oil companies have voiced their readiness to participate in tenders on development of phases 22-24 of the South Pars (SP) gas field in southern Iran, an official said here on Tuesday.

"Many companies from Europe, Korea, and Iran's Persian Gulf neighbors have expressed their willingness to take part in the tenders, Pars Oil and Gas Company (POGC) Managing Director Akbar Torkan told the MNA, adding, list of the companies has been submitted to the Oil Ministry.

The companies can take part in tenders after receiving the ministry's approval, said the head of POGC, which is in charge of development projects at the SP.

The official said that contracts for the South Pars development projects during the new Iranian year (started March 21) will be signed within the amended buyback deals.

Torkan added that the POGC plans to increase funding for SP projects, doubling $2,700 million invested in the previous Iranian year.

The POGC is affiliated to the National Iranian Oil Company (NIOC), which is responsible for projects to develop offshore South Pars, North Pars, Golshan, and Ferdows gas fields in the south.

... Payvand News - 4/4/07 ... --

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