Aker Kvaerner has won the project management contract worth approximately USD 25 million for South Pars phases 9 and 10. This represents a breakthrough for Aker Kvaerner's engineering and management services in Iran - the country that holds the world's second largest oil and gas reserves.
It is also a significant recognition of Aker Kvaerner's project execution skills. The work starts immediately and will last for approximately 4 years.
Aker Kvaerner will assist the national operator Pars Oil and Gas Company (POGC) in managing the USD 1.8 billion total contract (EPC) for the development project comprising phases 9 and 10 of the South Pars gas field located offshore Iran in the Persian Gulf.
Aker Kvaerner has partnered up with the Teheran based, private engineering company Hirbodan for the contract. Hirbodan has strong track record of management for several major projects. The assignment will employ approximately 10 persons from Aker Kvaerner and 40 persons from Hirbodan.
National Iranian Oil Company (NIOC) is developing the giant South Pars Gas field development project in a number of phases. The operator, POGC, is a subsidiary of NIOC. Phases 9 and 10 will have an output of 2 billion cubic feet gas per day. The EPC will be executed by a consortium lead by GS E&C in Korea, which has teamed up with two Iranian contractors, the Iranian Offshore Engineering and Construction Company and the Oil Industries Engineering & Construction Company.
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