"The agreement for the second part of the South Pars phase 12 (EPC2) which valued at around $2bln was recently signed with South Korean Daelim Company joined by Iranian companies," Managing Director of the Petropars Oil and Gas Company Gholam Reza Manouchehri said.
Manouchehri added that another contract has also been signed with Italian Company Tecnimont and Iranian companies Nargan, Dorriz and Gamma for the development of the third part of the same phase (EPC3) which is worth around $2 billion.
The Contract with Tecnimont and the Iranian companies was signed earlier in July 2009. The consortium plans to complete the plant by 2012.
The South Pars gas field is being jointly developed by Iran and Qatar. The Iranian share of the field is about 14 trillion cubic meters of gas, or about eight percent of the total world reserves, and more than 18 billion barrels of liquefied natural gas resources.
Iran has defined over 20 phases of development for the South Pars gas field, the ninth and tenth of which were inaugurated by President Mahmoud Ahmadinejad in March.
Managing Director of the National Iranian Oil Company (NIOC) Seyfollah Jashnsaz announced in September that Iran would soon start implementation of the development projects of the remaining phases of the South Pars gas field.
"Right now, development of 7 phases of the South Pars field is underway… and we predict that the development projects of the remaining phases will soon start," he said.
He further voiced pleasure with the proper speed in the implementation of the development projects of phases 12, 15, 16, 17, 18, adding that the relevant responsibilities for the start of operations in phases 19, 20 and 21 have also been entrusted to contractors.
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