Iranian Firms to Handle Bulk of South Pars Phase 11 Works

The development of South Pars Phase 11 in the Persian Gulf will see most subcontracts awarded to domestic Iranian companies, according to Pars Oil and Gas Company CEO Mohammad Meshkinfam.

The $4.8-billion gas deal with France's Total, signed last July, marked the return of a top Western oil company to Iran after international economic restrictions were eased in 2016.

Meshkinfam said that most sectors for Phase 11, including construction and drilling operations, have been put out to tender and local firms are among the winners. The project will produce 56 million cubic meters of natural gas per day and is expected to come on stream by early 2021.