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Iran to offer oil contracts to Western majors
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SPECIAL TO WORLD TRIBUNE.COM
Tuesday, February 28, 2006
Iran has decided to award energy development contracts to
Western majors.
An Iranian state oil firm said the Oil Ministry would grant Total, Royal
Dutch Shell and Repsol upstream development contracts in the South Pars gas
field in the Gulf. The Pars Oil and Gas Co. said the three Western
contractors would develop phases 11 and 13 of South Pars.
France's Total was expected to be awarded the contract to develop Phase
11 of South Pars, regarded as the largest reservoir of natural gas in the
world. Iran wants Total and the other two companies to help produce and
export liquefied natural gas in 2009.
Shell and Spain's Repsol were expected to receive contracts to develop
Phase 13. Akbar Torkan, managing director of the Pars Oil and Gas, said the
Phase 11 award was worth up to $1.4 billion and Phase 13, $1.5 billion. He
said the company also issued a tender to develop phases 19-21 of South Pars.
Copyright © 2006 East West
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