GS Engineering awarded $1.37bn South Pars contract

Korean outfit wins contract to sweeten gas at world's largest field

GS Engineering, Iran, Jobs, South Pars gas field, NEWS, Industry Trends

Other stories: World's 10 largest petrochemicals companies | Oil industry giants: ADNOC | Oil industry giants: Saudi Aramco | Top 10 MENA Region mega projects | Top 10 billion dollar oil deals of the summer | 2009's winners and losers in the oil industry10 events in oil's history that shook the world | Top 10 Gulf mega projects | Top 10 largest publicly traded oil companiesWorld's 10 largest oilfield services companies | World's 10 largest oil and gas contractors

A senior official from GS Engineering & Construction (GS E&C) has confirmed that the company has been awarded a US$1.37 billion Iranian gas contract.

Reuters reported that Moo-ik Chang, vice president of the South Korean contractor said that a deal to sweeten gas from the South Pars gas field had been agreed with Pars Oil and Gas Co, a subsidiary of the state-owned National Iranian Oil Company (NIOC).

"GS E&C secured a stable base in Iran, the world's second-largest natural gas reserves, by winning the gas desulfurisation project after it had successfully completed the 9-10 phases of South Pars project," Chang is quoted by Reuters as saying.

GS E&C will carry out the work as part of a consortium that includes Iranian International General Contractor Co. The company also agreed to complete phases 6, 7 and 8 of South Pars by May 2013.

South Pars is the world’s largest gas field and is shared between Iran and Qatar. Due to the immense size of the filed the Iranian section has been divided into 24 different phases.

Iran has stepped up the developemnt of its vast gas reserves in recent weeks. Yesterday reported that Total had resumed talks with NIOC regarding phase 11 of South Pars.

Webinar - Register to attend: Oil & gas at a digital tipping point

In partnership with leading global engineering company ABB. The webinar is free but can only be accessed by registering below in advance.


Most Popular

Digital Edition

Oil & Gas Middle East - July/August 2020

Subscribe Now