iran contractors ready to develop sp phase 11 as cnpc fails
Last Updated : GMT 06:41:18
Arab Today, arab today
Arab Today, arab today

Iran contractors ready to develop SP phase 11 as CNPC fails

Arab Today, arab today

Arab Today, arab today Iran contractors ready to develop SP phase 11 as CNPC fails

Tehran - Arabstoday

A senior Iranian oil industry official says Iraniancontractor companies have indicated their readiness to develop phase 11 of the South Pars gas field if the Chinese contractor fails to do so. Mousa Souri, managing director of the Pars Oil and Gas Company, noted that phase 11 of the South Pars gas field is located on the sea border with Qatar and should be developed as fast as possible to preserve Iran’s national interests. The official added that despite pressures put on China National Petroleum Corporation (CNPC), which is the main contractor, the project has not progressed on schedule. “The [Iranian] oil minister [Rostam Qasemi] first gave more time to the Chinese side and negotiations were also held on this issue both in Iran and China,” Souri said. He noted that despite all the time given to the Chinese company, the project did not progress and a 30-day ultimatum has been issued to CNPC in the current Iranian calendar year (started March 20) to start the work and buy the needed equipment. Souri stated that Iran will no longer wait for the Chinese company in case it dawdles as Iranian contractors are ready to take over developing phase 11 of the South Pars gas field. Iran signed a buyback contract with the French Total and Malaysian PETRONAS companies in 2004 for the development of the phase and the construction of its LNG plant. However, due to repeated delays by the two companies, Iran re-assigned the contract to CNPC in June 2009, and the company was supposed to make the phase operational in 52 months (by October 2013). CNPC was also expected to invest about USD 5 billion in the development of the upstream section of phase 11 and was required toprovide all the financial resources needed for the project. With less than 18 months to the expiry of the CNPC contract, the project by the Chinese company shows almost zero progress. The phase is expected to produce 2 billion cubic feet of natural gas and 70,000 barrels of heavy condensate per day. It will also supply a daily total of 1,900 million cubic feet of sour gas as feedstock to Pars LNG plant. 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

iran contractors ready to develop sp phase 11 as cnpc fails iran contractors ready to develop sp phase 11 as cnpc fails

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

iran contractors ready to develop sp phase 11 as cnpc fails iran contractors ready to develop sp phase 11 as cnpc fails

 



Arab Today, arab today
Arab Today, arab today Skincare PR Performance Full Year 2017

GMT 10:35 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Arab Today, arab today New hunt for flight MH370 gets under way

GMT 02:36 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today France sanctions businesses linked

GMT 01:58 2018 Wednesday ,24 January

France sanctions businesses linked
Arab Today, arab today Turkey detains dozens more

GMT 02:09 2018 Wednesday ,24 January

Turkey detains dozens more
Arab Today, arab today
Arab Today, arab today

GMT 07:22 2017 Thursday ,23 November

Zimbabwe's next leader heads home after Mugabe exit

GMT 07:23 2017 Thursday ,23 November

Zimbabwe's next leader heads home after Mugabe exit

GMT 22:38 2018 Tuesday ,23 January

Bahrain Press headlines

GMT 20:34 2018 Saturday ,20 January

Bahrain press headlines

GMT 16:25 2016 Thursday ,22 December

Italian bank Monte Paschi edges closer to state bailout

GMT 06:03 2014 Wednesday ,09 April

Please .. Let Gaza breathe!

GMT 09:12 2017 Friday ,17 November

Gleam Futures represents Grace Beverley

GMT 04:18 2017 Sunday ,26 November

Bella magazine appoints celebrity writer

GMT 06:00 2017 Sunday ,29 October

Childrenswear brand Once appoints Dyelog

GMT 16:33 2014 Thursday ,13 November

Al-Ehtimam Bil Aakhareen

GMT 03:34 2017 Sunday ,05 November

Needle & Thread relocates press office

GMT 14:56 2017 Thursday ,21 December

Ryanair says formally recognises pilots' union

GMT 16:03 2017 Thursday ,21 December

US hits Myanmar general in new global rights sanctions
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday