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Iran Signs Local Firms For $17bn, 90tcf South Pars Gas Recovery Boost

14 Mar 2025 Issue: 68 / 11 By: Yesar Al-Maleki

Iran is ever-more dependent on its South Pars gas field, whose 25bn cfd output meets 70% of domestic consumption. In a bid to prolong plateau output, Tehran is investing $17bn with the help of local firms in a bid to boost gas recovery by a massive 90tcf.

National Iranian Oil Company (NIOC) on 8 March signed seven contracts with local firms to reverse declines and increase output at Iran’s giant 700mn m3/d (25bn cfd) South Pars gas field. The ‘South Pars Joint Gas Field Pressure Boosting Project’ awards – to NIOC subsidiaries Petropars and Oil Industries Engineering & Construction, private power group Mapna and IRGC engineering arm Khatam al-Anbia – are worth a total of $16.9bn, $3bn less than the $20bn figure given alongside provisional awards a year ago (MEES, 15 March 2024).

Back then Iranian officials said that without intervention, South Pars output would begin declining by 10 bcm/year (967mn cfd) “within the next five years.” The program’s scope appears to have changed little over the intervening 12 months. (CONTINUED – 1519 WORDS)

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IN THIS ARTICLE

Charts included Charts

1: Iran’s Gas Output Has Only Just Managed To Stay Ahead Of Demand (bcm)

2. Turkey Gas Imports (bcm): Iranian Pipeline Imports Rebounded By 30% Last Year But Remain Below Their 2021 Record

Maps included Maps

Iran Awards $17bn Pressure-Boosting Contracts At South Pars

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