Friday, May 28, 2010

IRGC Receives South Pars Gas Contract

Iran’s IRGC has been awarded the rights to develop the latest phases of the giant South Pars natural gas fields in the Persian Gulf. South Pars is Iran’s largest gas field. Together with the adjoining Qatar’s North Field, they are the world’s largest.

The Revolutionary Guards' business arm, Khatam al-Anbiya Base, received the lucrative contract after Royal Dutch Shell and Respol YPF decided not to move forward on South Pars development.

Khatam al-Anbiya is under UN sanctions related to Iran’s nuclear program. Shell and Respol withdrawal from South Pars represent the hesitancy of global energy majors to doing business with Iran.


Anonymous said...

Well, it's a lot more than just "the hesitancy of global energy majors to doing business with Iran".

It's the result of a sustained economic war being directed at the Islamic Republic of Iran, primarily led by the Israel lobby, through the actions of the US government.

Anonymous said...

That will give birth to a new OIL family....

In a couple of years, when experience and practice joined hands, combined with a massive financial infrastructure... then be sure of the new OIL multi.. called "110"... maybe !

Nahid / Hamburg

Anonymous said...

This good news and improves Iranian self-sufficiency engineering and technical skills. It also creates opportunities for the thousands of young engineers that graduate from Iranian universities every year.