Islamophobia threatens global peace and coexistence, not just Muslims, says MWL chief at UN    Power bank likely caused South Korea plane fire, investigators say    Gold prices hit $3,000 for the first time as investors push the panic button    Hungary drops veto and agrees to prolong EU sanctions on Russian individuals    China hits out at 'threats of force' on Iran as Trump pushes for new nuclear deal    Makkah Lanterns Festival returns for the eighth year as part of Ramadan activities    Crown Prince receives Yazeed Al-Rajhi after historic Dakar Rally 2025 victory    SR17 million fines slapped on 16 individuals and companies convicted of violating Capital Market Law    Saudi Arabia welcomes border agreement between Tajikistan and Kyrgyzstan    Saudi ambassadors take oath before Crown Prince    16 endangered species released into AlUla's Protected Areas    Saudi Crown Prince reaffirms support for a political solution to Ukraine crisis in call with Putin Putin praises Saudi Arabia's constructive role and mediation efforts    NCM forecast: Thunderstorms to hit most Saudi regions until Monday    Saleh Al-Shehri's late penalty rescues Al Ittihad against Al Riyadh    Grand Mufti rules against posting prayers and preaching in mosques on social media    Man lives for 100 days with titanium heart in successful new trial    Argentinian court begins trial of seven healthcare professionals over Maradona's death    Al Hilal crushes Pakhtakor to storm into AFC Champions League quarter-finals    Singer Wheesung who wooed Korea with his ballads, found dead at 43    Prince Frederik of Luxembourg dies from rare disease    Real-life shipwreck story wins major book award    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Order vs. Morality: Lessons from New York's 1977 Blackout    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Guards-linked firm enters into accord on Iran gas projects
Published in The Saudi Gazette on 29 - 05 - 2010

An engineering company linked to Iran's Revolutionary Guards has signed a tentative agreement to develop three sections of the country's huge South Pars offshore natural gas field, a senior energy official said on Friday.
The plan to award vital energy projects to Khatam Al-Anbia highlights what analysts say is the Guards' growing economic role in the Islamic Republic. “A memorandum of understanding has been signed with Khatam Al-Anbia for the development of these three phases,” the semi- official Mehr News Agency quoted Ali Vakili, managing director of the state Pars Oil and Gas Company, as saying.
He was referring to phases 22-24 of South Pars, the world's largest reservoir of gas. In addition, the field's phases 13 and 14 were expected to be developed by an Iranian consortium also including Khatam Al-Anbia, Mehr said.
Iran sits on the world's second-largest gas reserves after Russia, but sanctions hindering access to foreign capital and know-how have slowed its development as a major exporter.
China's National Petroleum Corporation has clinched a $4.7 billion deal to develop part of South Pars, supplanting Total as lead partner in the project after the French firm delayed its investment decision under political pressure.
Vakili said South Pars' daily gas output stood at 200 million cubic meters and that this was expected to increase to 275 million cubic meters by the end of September.
“With the completion of all remaining phases the figure will reach 800 million cubic meters per day,” he said.
Last year, a Rand Corporation report said Khatam Al-Anbia had been awarded more than 750 contracts in construction, infrastructure and energy projects.
Qatar, which holds the southern section of South Pars, has developed its side of the field to become the world's largest exporter of LNG, gas cooled to liquid under pressure for transportation in special tankers.
Iran planned to replace foreign firms that have “dragged their feet for years” with domestic firms in developing South Pars.


Clic here to read the story from its source.