TEHRAN, Jan. 26 (Shana) – Managing Director of the Pars Oil and Gas Company (POGC) said that more than 1.7 billion dollars has be allocated for the development of South Pars gas field’s phases in the last nine months.
“Some 10 more billion dollars is needed for completion of the development projects,” Ali-Akbar Shabanpur told reporters touring the phases 17, 18, 20, and 21 of South Pars field on Tuesday.
“Total eight-month production exceeded 83 billion cubic meters which is planned to increase to 130 billion cubic meters,” he added.
To a question on Phase 11 development plan, he said that domestic companies are required to carry out the project while POGC is assessing technical qualifications of the applicant firms.
“If their qualifications are confirmed by the National Iranian Oil Company, the call for tender will be announced,” Shabanpur said, “If not, it is likely that the development plan will be carried out within new IPC (Iran Petroleum Contracs) model.
Asked whether it is technically feasible to conclude South Pars development projects by 2018, the POGC managing director agreed but replied that it requires supply of financial resources.