Global Business in Iran Database

In-depth metrics and analysis of Iran's international economic partnerships.

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OMV-South Pars Deal

description

In 2007, OMV signed a Memorandum of Understanding with the Iranian government regarding potentially participating in the development of phase 12 of the South Pars gas field and building a liquefaction plant for natural gas. In 2009, OMV decided to withdraw from the project due to depressed gas and oil prices. Iran has decided to press forward with the project even without OMV’s investment. 

Status

  • Current Status:
  • Discussion Date: Mon, 2007-04-23
  • Contract Date:
  • Completion Date:

Citation

1. "OMV and Iran Ink Deal for South Pars Gas Field", Rigzone, April 23, 2007, available at http://www.rigzone.com/NEWS/article.asp?a_id=44200

2. "OMV may walk away from Iran's South Pars project", Reuters, June 24, 2009, available at http://www.reuters.com/article/idUSWLA739220090624

All projects by OMV