South Pars 9 & 10 contract imminent

Iran’s oil ministry is close to awarding a USD 1.6 billion contract for phases 9 and 10 of its giant South Pars gas field to a consortium headed either by Korea’s LG Construction Co. or France’s Technip-Coflexip SA (TKP), head of the Pars Oil and Gas Company said. Asadollah Salehi-Foruz said a deal should be signed “in a maximum of two weeks… after some further technical clarification is carried out on the contracts.” He declined to comment on which of the two groups would be awarded the development deal, but other Iranian sources say the group headed by Korea’s LG is favourite. Several other Korean companies, including Samsung Corp. and the Daewoo International Corp. (could also join LG in developing part of the world’s largest gas field, the sources said. They also said Iranian consultants Sun Fire could also participate in one of the consortiums.

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