Iran Signs Flaring Deal with France's Sofregaz
TEHRAN (Tasnim) – The National Iranian Oil Company (NIOC) signed a contract with France's Sofregaz for the recovery of flare gas at a refinery at the giant South Pars natural gas field, a report said.
Iran's Samin Sazeh Company is also a signatory to the 42 million euro deal, which is expected to take 30 months to complete.
Curbing the flaring of half a million cubic meters of natural gas on a daily basis, reducing carbon emission in the region, gathering flare gas and injecting it into oil and gas fields for enhanced recovery and preservation of the environment are among the terms of the contract, Shana reported recently.
France's Total signed a deal with Tehran in July to develop phase 11 of South Pars field.
Total will be the operator with a 50.1 percent stake, alongside Chinese state-owned oil and gas company CNPC with 30 percent, and National Iranian Oil Co subsidiary Petropars with 19.9 percent.
The project will cost up to $5 billion and production is expected to start within 40 months, Iran's oil ministry said in a statement at the time.
