Petropars set to invest in Venezuela

Feb 15, 2005 01:00 AM

State-owned offshore oil company Petropars plans to conduct operations in Venezuela, the company’s managing director said.
Gholamreza Manouchehri was quoted as saying that the company’s senior officials have discussed investment in Venezuela’s oilfield development projects with energy authorities of that country. Turning to the tender for Bidboland gas refinery, he stated that technical envelopes of the bidders have already been opened and assessed. He said that seven consortia, including British, South Korean, Canadian, German and Iranian firms, have bid for upstream and downstream operations in Bidboland gas refinery, worth $ 105 bn.

According to Manouchehri, Britain's Foster Wheeler and Costian, South Korean Hyundai and Canadian SNS Lavalin have formed three conglomerates with Iran’s Nargan, Sazeh, Jahan Pars and South Tehran oil and gas companies to carry out the upstream operations.
Three companies in addition to German’s Tracktable are also bidders for downstream operations, he noted. Petropars will serve as manager of the project on behalf of the National Iranian Gas Company.

Once operational, Bidboland II refinery is projected to process 830,000 tons of gas liquids as well as 1.48 mm tons of methane and 1.52 mm tpy of liquefied gas.
On phase XII of the South Pars project, Manouchehri said since foreign companies could not agree on the procedure for collaboration, the project will be implemented by a domestic oil company.

Earlier, Oil Minister Bijan Namdar Zanganeh said that the giant project to develop Phase XII of the world's largest oil field, South Pars, has also been entrusted to Petropars. Manouchehri further noted that final winner of Phases XVII and XVIII of the South Pars project would be announced in the near future.
South Pars is due to be developed in up to 30 phases over at least 25 years, eventually producing 25,000 bn cfpd of gas and 1 mm bpd of condensates.

Source: AsiaPulse
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