Total Develops Iran’s South Pars Gas Field

Total Develops Iran’s South Pars Gas Field
Eni’s Bouri Offshore oil terminal is seen off the Libyan coast, in the Mediterranean sea, Tuesday, Aug. 1, 2015. The Italian energy company Eni SpA announced Sunday, Aug. 30, 2015, it has discovered a “supergiant” natural gas field off Egypt, describing it as the “largest-ever” found in the Mediterranean Sea. (AP Photo/Gregorio Borgia)

France’s Total signs an agreement to develop Phase 11 of Iran’s offshore South Pars Gas field, which is the world’s biggest natural gas field. The deal is considered as the first foreign deal since US sanctions on Iran were eased in 2016, according to Bloomberg.

South Pars Phase 11 project is expected to have a production capacity of 1.8bcf/d, or 370,000 boe/d.

“The gas produced will feed into the domestic Iranian market starting from 2021,” a Total spokesman stated. “The company would implement the project with the strictest respect for national and international law,” he added, according to France 24.

Total also started talks to invest in Iran’s petrochemical industry, as informed on Iran Daily.

Dr. Mahinaz El-Baz 318 Posts

Mahinaz El Baz received her PhD degree in International Economics from Helwan University in 2022. She has +10 years of experience in journalism and economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.


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