The official said all the
contractors, except for one, who have signed in the tenders are domestic companies.
In July 2017, Total and the
National Iranian Oil Company (NIOC) signed a contract for the development and
production of phase 11 of South Pars (SP11), the world's largest gas field. The
project will have a production capacity of 2 billion cubic feet per day or
400,000 barrels of oil equivalent per day including condensate. The produced
gas will supply the Iranian domestic market starting in 2021.
This contract, which has a
20-year duration, is the first Iranian Petroleum Contract (IPC) and is based on
the technical, contractual and commercial terms as per the Heads of Agreement
signed on November 8, 2016.
Total is the operator of the
SP11 project with a 50.1% interest alongside the Chinese state-owned oil and
gas company CNPC (30%), and Petropars (19.9%), a wholly owned subsidiary of