According to ICANA, the official said on Saturday that he
would consider the latest status of a 2017 deal with the Chinese company for
development of the project in Persian Gulf waters.
The 11th phase of the South Pars contract was signed between
National Iranian Oil Company (NIOC) and a consortium of France’s Total, China’s
CNPC International and Petropars Company in Tehran on July 3, 2017.
Based on the $4.879 billion deal, Total was operator of the
SP11 project with a 50.1% interest, in partnership with Chinese state-owned oil
and gas company CNPC (30%), and NIOC subsidiary Petropars (19.9%).
SP11 is to be developed
in two phases. The first phase, set to cost around $2 billion, comprises 30
wells and two wellhead platforms connected to existing onshore treatment
facilities by two subsea pipelines.
Depending on reservoir conditions as production progresses,
offshore compression facilities could be added, a first on the South Pars
field.
Following US’s imposition of sanctions on Tehran following a
May decision by Washington to pull out of the Iran nuclear deal, Total
announced it would no longer stay in the SP. 11 contract and its stocks were
automatically transferred to the Chinese side of the deal as it is stipulated
in the contract.
Zangeneh said, since Total’s pullout, the Chinese company had
not done anything specific regarding the contract, Shana wrote.
He also said that phase III of Persian Gulf Star Refinery
would come on-stream by Monday this week.
The refinery is the largest consumer of gas condensate in
Iran with a total production capacity of 36 million liters/day of gasoline.
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