Business & Economy | Energy & Oil Art | Film & Music | Events Heritage & History Philanthropy
Sports | Politics For Peace | Society & Culture Literature & Books Health & Medicine
Rights | Women | Diaspora Travel | Environment & Geography Science & Education Middle East & Asia

Home | News | Archive| RSS
twitter | facebook



Payvand Iran News ...
06/15/10 Bookmark and Share
South Pars attracts $15b in domestic investment
Source: Mehr News Agency, Tehran

The National Iranian Oil Company (NIOC) and domestic companies will sign contracts worth $15 billion today/tomorrow for the development of six phases of the South Pars gas field.

Phases 13, 14, 19, 22, 23, and 24 are to be transferred to the Industrial Development and Renovation Organization (IDRO), Petropars, and an all-Iranian consortium, the SHANA news agency reported.

NIOC Managing Director Ahmad Qalebani and Oil Minister Masoud Mirkazemi will attend the signing ceremony.

In April, Mirkazemi stated that all phases of the South Pars gas field will come on stream by 2015.

According to Iran's Fifth Five-Year Socio-Economic Development Plan (2010-2015), $25 billion should be invested annually in the upstream sector of the oil and gas industry, the Mehr News Agency quoted Mirkazemi as saying.

The development of oil and gas fields which are shared with Persian Gulf states, Iraq, and Turkmenistan is a priority of the Oil Ministry, he added.

He went on to say that Iran's oil production capacity is projected to rise above 5 million barrels per day and gas production is expected to hit 900 million cubic meters per day.

The South Pars field is a gas condensate field located in the Persian Gulf. It is the world's largest gas field and is shared by Iran and Qatar. According to the International Energy Agency, the field holds an estimated 50.97 trillion cubic meters (1800 trillion cubic feet) of in-situ gas and some 50 billion barrels of condensates.

Iran holds has the world's second-largest reserves of natural gas and the third-largest reserves of oil.

South Pars 1,000MW power plant inaugurated

ASSALOUYEH, June 15 (Mehr News Agency) - A large power plant with 1,000 megawatts output was officially inaugurated on Tuesday in Assalouyeh, southern Iran, aiming to supply electricity to the refineries of South Pars gas field phases 9, 10, 15, 16, 17, and 18, the Islamic Republic of Iran News Network reported.

Iranian President Mahmoud Ahmadinejad attended the inauguration ceremony.

The power plant project was implemented at the cost of 4,800 billion rials (some $480 million). It includes six 160MW units which will be also connected to the national electricity grid.

The first phase of the power plant had come on stream in 2009.

Ahmadinejad also attended the signing ceremony of the contracts for development of six phases of South Pars.

The National Iranian Oil Company (NIOC) and domestic companies signed contracts worth $15 billion on Tuesday for the carrying out the development plans of six phases of the South Pars gas field.

Phases 13, 14, 19, 22, 23, and 24 are transferred to the Industrial Development and Renovation Organization (IDRO), Petropars, and an all-Iranian consortium.

NIOC Managing Director Ahmad Qalebani and Oil Minister Masoud Mirkazemi also attended the signing ceremony.

The South Pars field is a gas condensate field located in the Persian Gulf. It is the world's largest gas field and is shared by Iran and Qatar. According to the International Energy Agency, the field holds an estimated 50.97 trillion cubic meters (1800 trillion cubic feet) of in-situ gas and some 50 billion barrels of condensates.

Iran holds has the world's second-largest reserves of natural gas and the third-largest reserves of oil.

... Payvand News - 06/15/10 ... --


comments powered by Disqus

© Copyright 2010 NetNative
(All Rights Reserved)

Popular Now

Join Payvand's Facebook Page

join Payvand's daily News mailing list
* indicates required

Home | Contact | About | Archive | Web Sites | Bookstore | Persian Calendar | twitter | facebook | RSS Feed