Name of the Project
South Pars 11 (SP11) project.

Location
Iran.

Client
Total will operate the SP11 project with a 50.1% interest alongside Petropars (19.9%), a 100% subsidiary of the National Iranian Oil Company (NIOC); and Chinese State-owned oil and gas company CNPC (30%).

Project Description
The project involves the development of Phase 11 of South Pars, the world’s largest gasfield.

The project will have a production capacity of 509-million cubic metres a day, or 370 000 bbl/d of oil equivalent. The produced gas will be fed into Iran’s gas network.

The SP11 project will be developed in two phases.

Phase 1 will comprise 30 wells and two wellhead platforms connected to existing onshore treatment facilities by two subsea pipelines.

Phase 2, which will be launched once required by the reservoir conditions, will involve the construction of offshore compression facilities.

Jobs to be Created
Not stated.

Value
The first phase will cost about $2-billion.

Duration
Not stated.

Latest Developments
Total has signed a heads of agreement (HoA) with the NIOC for the SP11.

Under the terms of the HoA, NIOC and the project partners will conduct exclusive negotiations to finalise a 20-year contract in accordance with the technical and economic terms established in the HoA, within the framework of the Iranian Petroleum Contract recently approved by the Iranian Parliament.

In parallel, Total will launch engineering studies and a call for tender process so that construction contracts can be awarded immediately upon signature of the final agreement.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Total, tel +33 1 47 44 58 53, fax +33 1 47 44 58 24 or email presse@total.com.