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Asia Pulse: SHELL TO DECIDE ON INVESTING IN IRAN’S SOUTH PARS NEXT YEAR

Published: Jul 31, 2006

TEHRAN, July 31 Asia Pulse – International oil giant Shell will make its final decision on whether to invest in Phase 13 of South Pars gas field development project in 2007.

According to Tehran based English-language newspaper Iran Daily in its Sunday edition, managing director of Pars Oil and Gas Company Akbar Torkan said the final investment decision (FID) on Phase 13 of South Pars gas field which pertains to Shell will be made available next year, adding that the FID on Phase 11 will also be available at the end of this year.

He said that based on talks with the managing director of Shell, the company is not going to finalize its decision on investment in Phase 13 this year, however, according to the plan, the company is expected to make its final investment decision in 2007 instead.

“There are no obstacles to the development of Phase 13 whose contract has already been inked and approved by Shell.” On signing a contract with Total to develop Phase 11, Torkan said that initial measures have been taken to sign the contract with the French company. “At the moment, both Total and National Iranian Oil Company are finalizing the contract.”

(IRNA)

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