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ISNA – Tehran: Shell and Repsol investments in South Pars field scoring up to $7 billion Service: Energy

02-02-2007

TEHRAN, Feb.2 (ISNA)-Iran Pars gas and oil company manager informed that the investments of Shell and Repsol companies would amount to 7 billion dollars in phases 13 and 14 of South Pars oilfield.

The Anglo-Dutch company of Shell and the Spanish company of Repsol have signed a preliminary deal to develop part of Iran’s giant South Pars field.

Speaking to ISNA, Akbar Torkan also acknowledged that the upper and lower section of liquid natural gas (L.N.G) projects in phase 11 of South Pars would be completed by late February and undergo the final investment decision (FID) stage.

He also stated that over 30 percent of South Pars products were dedicated to the processing of L.N.G. which made shipping gas for exports easier.

Referring to the Persian N.L.G. project in the phases 13 and 14 of South Pars, Torkan remarked that the deal was valued at least about 10 billion dollars.

“This project will be divided into several small 100 million dollars projects. The overall value of the project and the subprojects are soon to be estimated,” he concluded.

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