Iran could assign new contract model to offshore Farzad B gas project

Offshore staff

TEHRAN, IranPars Oil and Gas Co. (POGC) managing director Ali Akbar Shabanpour said the company expects Indian parties led by ONGC Videsh to shortly submit a financial model for developing the Farzad B gas/condensate field in the Persian Gulf.

Once POGC receives the proposal it will start feasibility studies and then enter into a heads of agreement with Indian developers, an official told news service Shana. 

Iran may apply its new energy contract model for Farzad B, he added. ONGC previously worked on a development under Iran’s former buyback contract arrangement.

The Farzad A and B fields could cost $9 billion to develop, the official added.

Elsewhere in the Persian Gulf, drilling operations at Phase 14 of the South Pars gas field development are currently 61% complete and 22 wells should be ready for production by March 20, the end of Iran’s current calendar year.

Mohammad Reza Takayedi, deputy managing director of National Iranian Drilling Co. (NIDC), told Shana the wells were being drilled at platforms A and C, and comprise 20 development and two appraisal wells.

Phase 14 is expected to produce 56.5 MMcm/d of sour gas, 75,000 b/d of gas condensate, plus associated liquefied gas and sulfur.

A consortium of Iran’s Industrial Development and Renovation Organization (IDRO), NIDC, Iran Shipbuilding & Offshore Industries Complex Co. and IOEC are responsible for the development.   

At South Pars Phase 19, the 19A and 19B platform topsides should be loaded out this summer and installed at the offshore location within four months, according to Rahim Tabrizi of Iranian Offshore Engineering and Construction Co. (IOEC).

Phase 19 should be fully operational by March 20, 2017, he added. 

POGC assigned development to Petropars and IOEC in June 2010 under an EOC contract. Petropars is responsible for drilling operations.


Share your news with Offshore at

South Pars Phase 19
(Courtesy Shana)

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...