Iran's POGC signs USD20B deal with domestic contractors for SP gas field development
Date
3/10/2024 8:38:21 AM
(MENAFN) Iran's Pars Oil and Gas Company (POGC), responsible for the development of the nation's expansive South Pars gas field in the Persian Gulf, has entered into a significant agreement valued at USD20 billion with domestic contractors. The objective of this agreement is to enhance the pressure levels at the field's wells and elevate its recovery factor.
According to reports from Shana, the contract signing ceremony took place in Tehran, with the presence of Mohsen Khojasteh-Mehr, the Head of the National Iranian Oil Company (NIOC).
The contract, inked with Petropars, MAPNA Group, Khatam-al Anbiya Construction Headquarters, Oil Industries' Engineering and Construction (OIEC), and Nargan Company as contractors, aims to boost the field's gas output by 90 trillion cubic feet. Additionally, it is expected to augment the field's output by two billion barrels of gas condensate.
Under the terms of the contract, the contractors will undertake a comprehensive review and validation of basic and advanced engineering documents, offering their expertise to enhance project efficiency and effectiveness.
Contractors are tasked with various responsibilities, including collaborating closely with the employer to finalize the project implementation plan. They are also responsible for managing the procurement process for late delivery items essential to the project's success. Additionally, contractors must prepare a comprehensive strategy for assigning subcontracts, particularly in the form of Engineering, Procurement, and Construction (EPC) contracts.
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