Petropars starts planning for Farzad gas project offshore Iran

National Iranian Oil Company (NIOC) has contracted Petropars to perform the engineering, exploration and basic design for the Farzad B gas field development in the Persian Gulf.

Iranian Minister of Petroleum Bijan Zangeneh said NIOC had allocated US$75 million towards the programme with the remaining capital for financing the project likely to come through buyback or IPC contracts, according to a report by news service Shana.

Mr Zanganeh added that Petropars was also handling development of Phase 11 of the South Pars gas field, originally awarded to Total.

Source: Offshore Magazine