Iran has announced that it has awarded contract to local companies to increase the pressure in the South Pars/North Dome Gas-Condensate field with costs of $20 billion, according to IRNA agency.

The contract was signed by Petropars, Oil Industries’ Engineering and Construction OIEC, Khatam-al Anbiya Construction Headquarters and MAPNA Group.

Also, on completing this project, the country will earn $900 billion. “We are witnessing the biggest event in the history of the Islamic Republic in line with ensuring stable energy security,” CEO of National Iranian Oil Company Mohsen Khojasteh said.