News ID: 213038
Published: 0224 GMT April 10, 2018

Total finalizes tenders for developing SP Phase 11

Total finalizes tenders for developing SP Phase 11

France's energy giant Total has carried out tendering for subcontracts and other preparatory work at its South Pars Phase 11 project in Iran, said managing director of Pars Oil and Gas Company (POGC).

Speaking to Shana, Mohammad Meshkinfam announced that the value of the tenders held by the French energy major surmounts €700 million.

"Most of the contacts were awarded to Iranian companies and the name of the winners will be made public soon," the official said.

Meshkinfam said that once the names of the winning companies are announced, the signing of the deals will begin.

The tenders pertained to sections of the projects such as drilling, jackets, topside, seabed pipeline, platform and installation.

South Pars Phase 11 contract was signed between National Iranian Oil Company (NIOC) and a consortium of Total and Petropars Company in Tehran on July 3, 2017.

Based on the $4.879-billion deal, Total is the operator of the project with a 50.1- percent stake, while Chinese state-owned oil and gas company CNPC has a 30- percent share and NIOC subsidiary Petropars 19.9 percent.

The project will be developed in two phases. The first phase, which is set to cost around $2 billion, will comprise 30 wells and two wellhead platforms connected to existing onshore treatment facilities by two subsea pipelines.

Depending on reservoir conditions as production progresses, offshore compression facilities could be added, a first on the South Pars field.

Since November 2016, Total has conducted engineering studies on behalf of the consortium and initiated calls for tender in order to issue Phase 1 development contracts by yearend.

   
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