Global Business in Iran Database
In-depth metrics and analysis of Iran's international economic partnerships.
GS Engineering & Construction - Pars Oil and Gas Co., South Pars 6, 7, 8
description
Iran signed a deal with South Korea's GS Construction and Engineering Co. for construction operations on South Pars Phases 6, 7, and 8. Construction will take four years, and aims to increase domestic production of natural gas by 110 McM/year.
In early July of 2010, GS announced that it had called off the deal to sweeten natural gas in South Pars due to sanctions placed by the United States.
- Country: South Korea
- Client: Pars Oil and Gas Co.
- Contractor: GS Engineering & Construction Co.
- Amount (Current Dollar Value): 1.24 billion euros
Status
- Current Status:
- Discussion Date:
- Contract Date: Tue, 2009-10-13
- Completion Date:
Citation
1. "Iran Signs €1.24 bn Gas Deal with S.Korea's GS E&C", Shana, 13 October 2009, available at http://www.shana.ir/147666-en.html.
2. "Iran, South Korea sign euro1.24 billion gas deal", Business Week, 13 October 2009, available at http://www.businessweek.com/ap/financialnews/D9BA3HCG0.htm.
3. “NOIC scraps $1.2b deal with S. Korea GS E&C”, Tehran Times, July 3, 2010, available at http://www.tehrantimes.com/index_View.asp?code=222433
4. "S. Korea GS E&C says scraps $1.2 bln Iran gas deal", Reuters, July 1, 2010, available at http://af.reuters.com/article/energyOilNews/idAFTOE66007020100701
