Words has previously got out that the phase will be introduced to foreign firms hunting investment opportunities in Iran's petroleum sector at a two-day conference in Tehran.
The phase is being developed for a daily recovery of 56 mcm of sour gas to be used for production of liquefied natural gas (LNG), and 80,000 bpd of gas condensate.
Development of the upstream section of Phase 11 of South Pars was awarded to France’s giant Total (40%) and Malaysia’s Petronas (10%) in 2000. Total dragged its feet on the project after steel prices jumped in the world in 2006. National Iranian Oil Company (NIOC) finally cancelled the contract with the French company.
Later on the project was offered to a Chinese contractor, CNPC, in 2009 which was called off by Iran after 52 months of non-action by the Chinese side.
NIOC has decided to assign the development of the offshore sector of Phase 11 of South Pars gas field independently to an Iranian or foreign contractor, managing-director of Pars Oil and Gas Company said last year.
Ali-Akbar Shabanpour said the decision to develop the offshore section was taken due to the priority of this sector to its onshore sector.
He said that offshore development of Phase 11 would produce gas to be processed by refineries at Pars Special Economic Energy Zone.
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