Two Iranian companies signed a $440-million agreement Saturday to develop a gas field in the Persian Gulf, with the Oil Ministry saying it showed arch-foe the United States could not stop the country with sanctions.
China’s state-owned CNPC has replaced France’s Total in Iran’s multibillion dollar South Pars gas project, Iranian Oil Minister Bijan Namdar Zanganeh said, according to the semi-official news agency ICANA on Sunday.
South Pars Gas Field's Phase 14, with a production capacity of one million cubic meters per day, will go on stream by March 2019, said the CEO of Iranian Offshore Engineering and Construction Company on Wednesday.
The executor of South Pars phases 17 and 18 said the first unit of the refinery of the two phases will become operational by the end of the month of Azar (November/December). He added that with the operation of two refining units of the two phases, 20 million cubic meters of gas will be added to the country’s production capacity on daily basis.