News ID: 150680
Published: 1011 GMT May 02, 2016

KOGAS wins deal over Balal gas field

KOGAS wins deal over Balal gas field

Iran on Monday awarded a deal to South Korean’s energy giant KOGAS over the development of one of its key gas fields in the Persian Gulf.

Rokneddin Javadi, the managing director of the National Iranian Oil Company (NIOC), has been quoted by the media as saying that KOGAS will as per the deal conduct technical studies Balal gas field. 

Javadi added that the South Korean energy company will then present its proposals over the development of Balal project to the NIOC. The proposals, he said, will also include the possibility of using the gas from the field to produce liquid natural gas (LNG). 

The Korean company had earlier signed a basic agreement with the NIOC over the production of LNG, its marketing as well as the transfer of its experiences to Iran in the same area. 

A separate agreement had also been signed over providing engineering services for the construction of two key gas pipelines for Iran – Iran Gas Trunk-Line 7 (IGAT 7) and Iran Gas Trunk-Line 9 (IGAT 9).

IGAT 7 is planned to take natural gas from the energy hub of Assaluyeh in southern Iran to the southeastern province of Hormozgan and Kerman as well as the southeastern province of Sistan-Baluchestan. 

IGAT 9 is planned to take the gas from Assaluyeh to Iran’s border with Turkey in the northeast for future exports to Europe.

The signing of the deals with South Korea took place during a state visit to Tehran by the country’s President Park Geun-hye.

President Park arrived in the Islamic Republic on Sunday for a three-day state visit.  She is heading a delegation comprising over 230 executives and businesspeople. 

South Korea and Iran signed 19 cooperation documents on a variety of areas after President Park met her Iranian counterpart Hassan Rouhani.

   
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