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Total begins studies for development of Iran's gas field

Xinhua, February 10, 2017 Adjust font size:

France's Total has begun technical and executive studies for development of Phase 11 of Iran's South Pars gas field, semi-official Mehr news agency reported on Friday.

The Managing Director of the Pars Oil and Gas Company, Mohammad Meshkinfam, said that Total was preparing a conceptual design for offshore facilities of South Pars, Phase 11.

"We are seeking the best option in order to prevent all possible lapses in conceptual studies," Meshkinfam was quoted as saying.

In November 2016, the National Iranian Oil Company (NIOC) and a consortium involving France's Total, China National Petroleum Corporation (CNPC) and Iran's Petropars signed a major deal to develop Iran's South Pars gas field.

The contract for the development of the gas field in the Persian Gulf region is worth 4.8 billion U.S. dollars.

Iran expects to produce as much as 56 million cubic meters per day of natural gas from the field once it is in full swing.

On timing of the contract for development of Phase 11 by the consortium, Meshkinfam said "presently, technical negotiations are being carried out ... and it is expected the relevant contract to be inked by the end of the current Iranian calendar year (ending on March 20)." Endit