Iran Signs $17B South Pars Gas Pressure Project Amid Rising Global Demand
Iran’s completed a 17 billion dollar deal to increase gas pressure with South Pars gas field. The contract was signed with Iranian companies Petropars, Khatam al-Anbiya and MAPNA and focuses on maintaining optimum production levels as well as preventing gas migration. The construction will include 7 gas pressure boosting hubs and other infrastructural works, with 70% of the materials being domestic and and adding up to over 420,000 tons.
The project is expected to secure Iran’s long-term energy flow, support projected expansion to 1.34 billion cubic meters per day, and create approximately 17,000 direct and 50,000 indirect jobs.
Strategic Implications:
Enhances production capacity and energy security
Reduces reliance on gas imports and stabilizes petrochemical feedstock availability
Supports Iran’s export potential in gas‑based petrochemicals and MEG
This aligns with broader national goals to achieve growth despite sanctions, while leveraging strategic infrastructure projects to reinforce Iran’s position in regional energy markets.
Iran has clinched a $17 billion contract to enhance gas extraction from the South Pars field, the world’s largest gas field. The project involves the construction of seven compressor stations in collaboration with local companies such as Petropars and MAPNA. It seeks to sustain gas production, avert reservoir migration, and ensure stable petrochemical exports. More than 70% of the equipment will be procured from local suppliers, creating in excess of 60,000 jobs. This mega project further advances Iran's energy security and exports.
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