South Pars award nears

08 February 2002

Bidders on phases 11 and 12 of the South Pars offshore gas field development are expecting a decision on the winning proposal by the end of February. The local Pars Oil & Gas Company (POGC)last year received two proposals to carry out the project on an engineering, procurement and construction (EPC) basis, along with a buy-back offer submitted by Norway's Statoil(MEED 14:12:01).

For the EPC option, the low bidder at about $1,600 million is understood to be a consortium led by South Korea's LG Engineering & Construction, with two local companies - Iranian Offshore Engineering & Construction Companyand Oil Industries Engineering & Construction. The other EPC bidder is France's Technip, in partnership with the local Sunfire Engineering & Management. Both consortia also submitted financing proposals.

Phases 11 and 12 will produce 2,000 million cubic feet a day of gas for domestic use, and condensate and liquefied petroleum gas (LPG) for export.

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