GS Oil & Gas to resume South Pars work

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South Korea’s GS Energy has signed a deal to resume work on phases 6-9 of the South Pars gas project it withdrew from following the intensification of sanctions in 2011.

The company originally signed a $ 1.2bn contract for the project with the National Iranian Oil Company (NIOC) in 2010.

Head of Industrial Projects Management of Iran (IPMI) Hamidreza Jalali told reporters on 24 May that GS was also in the running for the management, operation, and financing of the projects in South Pars 14th phase.

This is projected to produce 56.5m cubic metres a day of sour gas, liquefied natural gas (LNG), ethane,  gas condensates and sulphur.