Iran To Award South Pars Project Shortly

National Iranian Oil Company said on Monday it will award a deal to develop phases 9 and 10 of its South Pars gas field by the second week of April. "In two to three weeks we will announce who won the contract," NIOC Vice President Ahmad Rahgozar said. "It is a very close competition between a consortium led by Technip and Korea's LG," he added without giving further details. Iranian Oil Minister Bijan Zanganeh said in Vienna last week that LG appeared to have the better bid from a financial point of view, but that the final decision rested with the NIOC.

Investment is estimated at $2 billion for phases 9 and 10 which will produce natural gas, LPG and gas condensate.