Iran pursuing $20B South Pars pressure-boosting program
March 18, 2024
Pars Oil and Gas Co. has signed contracts with various domestic companies in Iran for a pressure-boosting project at the South Pars gas field in the Persian Gulf.
Courtesy Petropars
Offshore staff
TEHRAN, Iran — Pars Oil and Gas Co. has signed contracts with various domestic companies in Iran for a pressure-boosting project at the South Pars gas field in the Persian Gulf.
According to the country’s Oil Minister Javad Owji, 38 production and logistics platforms are operating at present over the field and 14 pressure-boosting platforms will be used to implement the project.
National Iranian Oil Co. managing director Mohsen Khojastehmehr added that the $20 billion invested will help extract 90 Tcf of gas and 2 Bbbl of gas condensates, generating more than $900 billion in revenues.
The contractors involved are Petropars, Oil Industries Engineering and Construction, Khatam al-Anbiya Construction Headquarters, MAPNA Group, and a consulting company.
