The National Iranian Oil Company and its affiliates were authorized at a Solemn Ceremony held in Tehran by the International Consortium to implement the phases 2 and 3 of the South Pars field (Persian Gulf)development. The Ceremony was attended by representatives from the Iranian Petroleum Ministry, top managers of the National Iranian Oil Company, South Pars Oil and Gas Company, Total South Pars (France) and Petronas (Malaysia) companies. Gazprom's delegation was leaded by Stanislav Tsygankov, Head of the Company's Foreign Relations Department.

The participants highly evaluated the technical condition of the South Pars field infrastructure, technologies introduced and construction quality and efficiency.

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The Project on the implementation of the South Pars field (Persian Gulf)phases 2 and 3 was launched by the Consortium composed of Total (40%), Petronas (30%) and Gazprom (30%) back in 1997. The Consortium constructed the field infrastructure including two offshore platforms (each with ten production wells), two 100-km-long underwater gas pipelines and a gas processing plant (with a capacity of 20 bcm per annum) in Assaluyeh.

The total value of the field infrastructure construction accounts for USD 2,012 billion. At present, the parties are involved in recovering capital expenses and allocating remuneration. Gazprom is due to receive some USD 1.15 billion over 7 years from the opening date of the field development by marketing gas condensate extracted from the South Pars field and receiving remuneration.

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