(MEBG) – More details have been revealed about an agreement between Italy’s Ente Nazionale Idrocarburi (ENI) corporation and the Iranian oil authorities, regarding ENI’s development of the South Pars gas field.
ENI's subsidiary Agip and Petropars signed the contract for the development of phases IV and V of the gas field, with Agip holding a 60-percent share and Petropars 40 percent. According to the agreement, two offshore platforms will be built at a depth of 70 meters under the seabed, each with the help of 12 drilling rigs. Two 100-km pipelines will be built, ending in Assalouyeh.
The contract is worth about $3.8 billion and payments to ENI are scheduled over a period of 7 to 10 years from the date of the initial production of the gas from the South Pars gas field, estimated to be 54 months from the implementation of the project.
According to the contract, Agip will provide the required technical expertise, technology and facilities for the training of Iranian experts.
As the commissioner of the project, Agip has also undertaken to observe Iranian rules and regulations, especially those related to preservation of the environment.
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