manage news

According to the Public Relations and International Affairs Department of Petropars Group, the National Gas Pressure Boosting Project in the South Pars Joint Gas Field, as the most significant and strategic project in the oil industry, will be executed with an investment of $20 billion. The project aims to increase extraction by 90 trillion cubic feet of gas and 2 billion barrels of gas condensates, generating $900 billion in revenue for the country.
The main contractors for the implementation of the South Pars Joint Gas Field Pressure Boosting Project include Petropars, OIEC, Khatam al-Anbiya Construction Headquarters, and MAPNA, with the conceptual, basic, and advanced engineering contractor being Nargan Consulting Engineers, who signed the contract.
The contractors' scope of work includes collaborating with the employer to finalize the project implementation plan, ordering long-lead items, developing strategies for awarding subcontracts within the EPC framework, negotiating and establishing partnerships with domestic and international platform construction yards for building pressure boosting platforms in the Persian Gulf, and taking necessary steps to initiate geotechnical and geophysical contracts.
Mr, Owji, Minister of Oil: The South Pars Pressure Boosting Project Plays a Crucial Role in Ensuring the Country's Energy Security
During the ceremony, Mr, Javad Owji, the Minister of Oil, highlighted the new records set in gas extraction from the South Pars Joint Gas Field. He stated that the implementation of the pressure boosting project in South Pars would create a $20 billion opportunity for Iranian manufacturers. He mentioned that the execution of this project could have begun eight years ago, but despite the delay in the previous administration, the Iranian Offshore Oil Company made a brave decision and started expert work two years ago.
Mr, Owji pointed out that a daily extraction of 707 million cubic meters of gas from the South Pars Joint Gas Field has been achieved this year. He emphasized that without the implementation of pressure boosting projects, the field would experience pressure drops. The importance of exploiting this joint field lies in the fact that 93% of the fuel for power plants and industries and a significant portion of petrochemical feedstock is supplied from this field's gas.
He added that the $20 billion capacity for domestic manufacturers created by this project would lead to an increase of 90 trillion cubic feet in gas extraction and 2 billion cubic feet in gas condensate extraction, adding $900 billion to the country's revenue and playing a crucial role in ensuring energy security.

CEO of the National Iranian Oil Company: South Pars is Reborn

Dr. Mohsen Khojasteh Mehr, CEO of the National Iranian Oil Company, stated that we are witnessing the greatest event in the history of the Islamic Republic in terms of sustainable energy security, which is the finalization of the South Pars Pressure Boosting Project. He added that with the help of Iranian contractors, we achieved success, showcasing the capability of domestic companies.
Dr. Khojasteh Mehr remarked that South Pars has been reborn, as pressure boosting plays a very significant role in gas and gas condensate production. He explained that to prevent gas migration, the pressure boosting project was meticulously reviewed from an economic and engineering standpoint, with an investment figure of $20 billion allocated for this project.
He continued that after about two years of expert meetings, the project reached this conclusion and decision, which determines governmental approaches. Additionally, the decision was made to execute pressure boosting programs offshore and at sea.
He concluded that with the implementation of this project, 90 TCF will be added to the country's gas extraction, approximately 2 billion barrels of gas condensates will be added to the gas condensate capacity, the investment for this project is about $20 billion, and the revenue from this work for the country will exceed $900 billion.