POGC Signs Six Persian Gulf Exploration & Development Agreements (Iran)

Pars Oil and Gas Company (POGC) has signed six agreements with domestic companies and contractors.

The first agreement was for drilling four wells in Phase 1 of the giant offshore South Pars gas field for 140 million dollars. It was signed with the National Iranian Drilling Company (NIDC).

The drilling of new wells would increase the output of Phase 1 by 400 mcf/d.

The second agreement was for the drilling of 11 offshore wells and construction of an offshore platform, flare and 110 kilometers of pipeline. The 1.23-billion-dollar agreement was signed with Petro Iran Company.

POGC also signed an agreement with Deep Sea Technology Company to explore the Persian Gulf bed for three years.

The other agreements for the construction of drilling platforms and procurement of necessary equipment was signed with Parsian Technology Company, completion of the flare of Phase 1, laying pipelines between other phases and completion of oil storage facilities with Petroleum Designing and Construction Company, which is a subsidiary of National Iranian Oil Refining and Distribution Company (NIORDC) and the design and manufacturing of equipment subject to embargo and required for South Pars with Imam Hussein University.

South Pars is part of a wider gas field that is shared with Qatar. The larger field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran’s territorial waters (South Pars) in the Persian Gulf. The remaining 6,000 square kilometers, referred to as the North Dome, are in Qatar’s territorial waters.

[mappress]

April 22, 2013