Tag Archives: Gas Field

The development of Phase 11 of the South Pars project will cost up to $5 billion.

Concluding Contracts with topnotch firms can positively impact the country'.s economy in the long run.

South Pars is the world'.s largest gas field. shared between Iran and Qatar.

Total will operate the SP11 project with a 50.1 percent interest. while Iranian Petropars Company and the Chinese CNPC will have a share of 19.9 and 30 percent. respectively.

The field belongs to the fields’ zone of Kyzylkum depression. which is located not more than 200 meters above the sea level.

The 4.8 billion-dollar deal is the first major gas and oil agreement since anti-Iran sanction relief.

Total has a 50.1-percent share in the deal. The state-owned China National Petroleum Corp. has 30-percent stake and Iran’s Petropars has 19.9 percent.

The BP head said that the company would spend $15 billion in projects this year. and in 2018 and 2019.

The deal with Total increases Iran'.s energy security and is likely to encourage other foreign companies to invest in Iran.

Total holds a 50.1 interest in the South Pars project with state-owned China National Petroleum Corporation owning 30 percent and Iran’s Petropars 19.9 percent.