Global Business in Iran Database
In-depth metrics and analysis of Iran's international economic partnerships.
Statoil ASA - Petropars, South Pars Phases 6, 7, 8
description
In October 2002, Norway's Statoil contracted with Petropars to develop phases 6, 7, and 8 of the giant South Pars Gas Field. The project includes three platforms 100 km from shore, and a 32-inch pipeline from the platforms to a gas treatment plant at Assaluyeh. Statoil has a 37 percent stake in the project, and upon completion will turn over operation of the facilities to NIOC. Most of the increased gas production has been slated for reinjection into Agha Jari oil field; the rest to be used for domestic consumption.
The project has been marred by overruns and delays, and Statoil has been forced to write down the project by $329 million. As of 2 November 2009, Statoil has said that it will not expand its investments in Iran, though did not specifically comment on the status of South Pars 6, 7, and 8.
- Country: Norway
- Client: Petropars
- Contractor: Statoil ASA
- Amount (Current Dollar Value): Contracted October 2002, total contract value $3,095,157,303.42 (2009 USD)
Status
- Current Status:
- Discussion Date:
- Contract Date:
- Completion Date:
Citation
1. "Statoil writes down problematic South Pars project in Iran", Goliath, 25 January 2006, available at http://goliath.ecnext.com/coms2/gi_0199-5579563/Statoil-writes-down-prob....
2. "Iran to grant Statoil South Pars Phases 6-8", Alexander Oil and Gas, October 13, 2002, available at http://www.gasandoil.com/goc/company/cnm24494.htm.
3. "Statoil-Iran-South Pars", Statoil, Accessed 2 November 2009, available at http://www.statoil.com/en/About/Worldwide/Iran/Pages/SouthPars.aspx.
All projects by Statoil ASA
Country |
Contractor | Project Name | Amount (Current Dollar Value) | Last Action | Status | ||
|---|---|---|---|---|---|---|---|
| Statoil ASA | Statoil - NIOC, Khorramabad Exploration | $49 million |
11/01/09 |
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| Statoil ASA | Statoil ASA - Petropars, South Pars Phases 6, 7, 8 | $2.6 billion |
11/02/09 |
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