Total and the National Iranian Oil Company (NIOC)

Total and the National Iranian Oil Company (NIOC) have signed a contract for the development and production of phase 11 of South Pars (SP11), the world’s largest gas field. The project will have a production capacity of 2 Bcf/D, or 400,000 BOE/D including condensate. The produced gas will supply Iran’s domestic market starting in 2021. The SP11 project will consist of a first phase in which 30 wells and two wellhead platforms will be developed and connected to existing onshore treatment facilities by subsea pipelines, and a second phase in which offshore compression facilities will be built. Operator Total has a 50.1% stake in SP11, with China National Petroleum Corporation (CNPC) and NIOC holding 30% and 19.9% interests, respectively.