BLBG:Iran Awards $1.9 Billion Lavan Gas Contract to Sepehr Energy
The Iranian Offshore Oil Co. awarded a $1.9 billion contract to Sepehr Energy Co. to develop the Lavan natural gas field after ending talks with Poland’s biggest natural-gas company, Mehr reported.
The contract includes construction of a petrochemical complex on Lavan island, agency said. Lavan contains about 10 trillion cubic feet of gas and has a capacity for producing 750 million cubic feet a day of natural gas, the state-run news agency said.
Iran previously held talks with Poland’s biggest natural- gas company over the development of the field, Mehr reported. The country failed to reach an agreement with Polskie Gornictwo Naftowe i Gazownictwo SA (PGN) due “to the company‘s long delays in signing the deal,’’ Mehr said.
The field will come onstream in 54 months, the oil ministry said on its website Shana.
To contact the reporter on this story: Maher Chmaytelli in Dubai at mchmaytelli@bloomberg.net
To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net
