National Iranian Oil Company (NIOC) on 8 March signed seven contracts with local firms to reverse declines and increase output at Iran’s giant 700mn m3/d (25bn cfd) South Pars gas field. The ‘South Pars Joint Gas Field Pressure Boosting Project’ awards – to NIOC subsidiaries Petropars and Oil Industries Engineering & Construction, private power group Mapna and IRGC engineering arm Khatam al-Anbia – are worth a total of $16.9bn, $3bn less than the $20bn figure given alongside provisional awards a year ago (MEES, 15 March 2024).
Back then Iranian officials said that without intervention, South Pars output would begin declining by 10 bcm/year (967mn cfd) “within the next five years.” The program’s scope appears to have changed little over the intervening 12 months. (CONTINUED - 1519 WORDS)
