Iran is likely to award a gas block in South Pars field to Indian Oil Corporation-Petroparas consortium for the three billion dollar LNG project of the state-owned company which plans to use French or German technology.IOC has teamed up with Petropars of Iran for bringing to production one of the 28 phases planned to develop the 500 sq mile South Pars field, and produce 9 million tones per annum of Liqufied Natural Gas (LNG) to export to India and other countries."IOC-Petropars have submitted a plan to National Iranian Oil Co (NIOC) for development of the block and production of LNG. Iranian government is likely to award a block to the consortium tomorrow," an official said here.While the upstream facilities, for production of 2 billion standard cubic feet per day of gas (9 million tonnes per annum of LNG), will be developed by the consortium with Petropars as operator, the liquefaction facilities with IOC as operator.In the upstream gas production, Petropars will have 60 per cent participating interest with balance 40 percent being held by IOC and in the liquefaction facilities IOC will have a 60 per cent equity stake with balance being held by Petropars.
