The local Petropars, an affiliate of the National Iranian Oil Company, has released the first engineering, procurement and construction (EPC) package on phases 6,7 and 8 of the South Pars gas development scheme. The contract covers the supply and installation of three wellhead jackets. A further two EPC packages are due be issued for bid by mid 2002. Package 2 will cover topsides, while package 3 is for pipelines. The total value of the three packages is estimated at more than $1,000 million (MEED 16:2:01).
Petropars has the buy-back development contracts for the estimated $2,650 million scheme. Each phase is set to produce 1,000 million cubic feet a day of gas and 40,000 barrels a day of condensate.
The UK's Enterprise Oilin late 2000 took a 20 per cent stake in the development (MEED 5:1:01). However, Enterprise is now re-evaluating its position in the project, citing unattractive contract terms. Norway's Statoilhas expressed an interest in taking a major stake in the project, but no agreement has so far been concluded.
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