The Iranian National Oil Company has signed a contract for the implementation of a natural gas project worth up to $20 billion, which can be considered the largest natural gas trading contract in Iran's history.

On March 10, 2024, Iranian National Oil Company signed a contract with four Iranian companies to implement the South Pars gas field boosting project. The contract is the largest natural gas contract in Iranian history, worth 14366 billion yuan. Iranian Oil Minister Ogi said that after the implementation of the contract, it will increase Iran's natural gas production by 90 trillion cubic feet and 2 billion barrels of condensate oil production, with a total value of approximately 6.4647 trillion yuan.

Iranian Oil Minister Oji stated that the contract value today is 20 billion, resulting in a benefit value of 90 trillion cubic feet and 2 billion barrels of condensate, totaling 900 billion. The sanctions and destructive actions imposed by Western countries such as the United States on Iran cannot prevent the development of Iran's oil industry, and the economic data of Iran's oil and gas industry continues to grow.

Iran ranks as the second largest natural gas reserve country in the world, with a daily natural gas production of 1.07 billion cubic meters. As the largest natural gas field in the country, the South Pars natural gas field not only accounts for half of Iran's total natural gas reserves, but also accounts for 7% of the world's total reserves, demonstrating its pivotal position. In July 2023, the Iranian government received good news that after persistent independent construction, the 11th phase of the South Pars gas field project successfully installed a natural gas extraction platform weighing 3200 tons. This major progress will strongly promote Iran's natural gas mining output to a new level and further promote Iran's economic prosperity. Keywords: overseas engineering, international engineering construction, foreign engineering construction news.

On March 10, 2024, the Iranian National Oil Company successfully reached a major cooperation agreement with four domestic enterprises regarding the implementation of the South Pars gas field boosting project. Iranian Oil Minister Ogi stated at the signing ceremony that the signing of this contract will greatly promote Iran's natural gas extraction and utilization process. It is predicted that after the implementation of the contract, it will bring Iran approximately 90 trillion cubic feet of natural gas increment and 2 billion barrels of condensate production. The total potential value of these two resources is about 6.4647 trillion yuan, which will inject new vitality into Iran's economic development. (This article is from the official website of Jiandao: www.seetao. com. Reproduction without permission is not allowed, otherwise it will be punished. Please indicate Jiandao's website and the original link when reprinting.) Jiandao's mechanical column editor/Zhou Yingwen