Iran to Offer Three New Gas Fields at London Event

Iran will offer North Pars, Golshan and Ferdowsi gas fields to foreign investors for development at a London event scheduled later this year, state owned Shana News reported Wednesday.

Tehran will also launch a new hydrocarbon contract model at the event.

Managing director of Pars Oil and Gas Company (POGC) Ali-Akbar Shabanpour said talks are under way for developing phase 11 of the South Pars gas field by Iranian companies Mapna and Petropars. Earlier the plan was to offer phase 11 to foreign investors at the same London event.

Located in Persian Gulf, North Pars offshore gas field covers an area of 25 square kilometers. It holds 57.1tcm of sour gas.

Golshan gas field is also located south of Iran and is expected to produce 2bcf of gas once fully developed.

Ferdowsi offshore gas field is also located in Persian Gulf waters.

But under the new hydrocarbon contract, National Iranian Oil Company (NIOC) will set up joint ventures for crude oil and gas production with international companies which will be paid with a share of the output, Shana News said.