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PETRONAS AND PARTNERS BRING IRAN’S GAS FIELD ON STREAM
PETRONAS and its partners TotalFinaElf and Gazprom have brought on stream Phases 2 and 3 of the South Pars gas field, located in the Persian Gulf offshore Iran.
The two phases of this field are the first gas project developed by PETRONAS and the two partners to have come on stream in Iran. The total investment in the project was US$2billion. The contract was signed with National Iranian Oil Company (NIOC) in late September 1997. TotalFinaElf, the operator, has a 40 per cent interest in the project, while PETRONAS — through subsidiary PETRONAS Carigali Overseas Sdn Bhd — and Gazprom each has a 30 per cent stake.
At plateau, Phases 2 and 3 of South Pars are expected to produce two billion cubic feet of gas and 80,000 barrels of condensate per day from 20 wells tied into two unmanned platforms. The gas produced will not be treated offshore, but will be transported with the condensate and condensation water to the Assaluyeh treatment plant in south western Iran via two 32-inch, 105-kilometre pipelines. This project encompasses the largest multiphase transportation system of its kind in the world. (more…)
PETRONAS AND PARTNERS BRING IRAN’S GAS FIELD ON STREAM
PETRONAS and its partners TotalFinaElf and Gazprom have brought on stream Phases 2 and 3 of the South Pars gas field, located in the Persian Gulf offshore Iran.
The two phases of this field are the first gas project developed by PETRONAS and the two partners to have come on stream in Iran. The total investment in the project was US$2billion. The contract was signed with National Iranian Oil Company (NIOC) in late September 1997. TotalFinaElf, the operator, has a 40 per cent interest in the project, while PETRONAS — through subsidiary PETRONAS Carigali Overseas Sdn Bhd — and Gazprom each has a 30 per cent stake. (more…)
MLNG SIGNS MEMORANDUM OF AGREEMENT TO SUPPLY LNG TO TOKYO ELECTRIC AND TOKYO GAS
Malaysia LNG Sdn Bhd (MLNG), a subsidiary of PETRONAS, today signed a Memorandum of Agreement (MOA) with The Tokyo Electric Power Company Inc. and Tokyo Gas Company Ltd. to supply up to 7.4 million tonnes per annum of Liquefied Natural Gas (LNG) for 15 years beginning 2003. The agreement comes with an additional five-year supply extension option. At current prices, the contract is worth about US$20 billion for the duration of 15 years.
The MOA will effectively renew the existing 7.4 million tonnes per annum 20-year contract between MLNG and the two Japanese power and gas utility companies signed in 1983, marking another milestone in the long-term relationship between MLNG and the two buyers. The agreement also serves as a testimony to MLNG and Malaysia’s reputation as a stable, reliable and competitive LNG supplier. (more…)
MLNG SIGNS MEMORANDUM OF AGREEMENT TO SUPPLY LNG TO TOKYO ELECTRIC AND TOKYO GAS
Malaysia LNG Sdn Bhd (MLNG), a subsidiary of PETRONAS, today signed a Memorandum of Agreement (MOA) with The Tokyo Electric Power Company Inc. and Tokyo Gas Company Ltd. to supply up to 7.4 million tonnes per annum of Liquefied Natural Gas (LNG) for 15 years beginning 2003. The agreement comes with an additional five-year supply extension option. At current prices, the contract is worth about US$20 billion for the duration of 15 years.
The MOA will effectively renew the existing 7.4 million tonnes per annum 20-year contract between MLNG and the two Japanese power and gas utility companies signed in 1983, marking another milestone in the long-term relationship between MLNG and the two buyers. The agreement also serves as a testimony to MLNG and Malaysia’s reputation as a stable, reliable and competitive LNG supplier. (more…)