TEHRAN (PIN) – National Iranian Oil Co. (NIOC) and Swiss company Edison SpA inked a memorandum in Lausanne on the development of two phases of South Pars (SP) field.

The memo was signed by National Iranian Gas Export Co. (NIGEC) Managing Director Nosratollah Seifi and Director of Business Unit of Hydrocarbon Asset of Edison SpA Pietero Cavanna in the presence of Iran’s Acting Oil Minister Gholamhossein Nozari.
According to the NIGEC, the memorandum steers feasibility studies and negotiations toward a comprehensive project in the hydrocarbon sector.
The Swiss company is to develop two phases of the large field and to build a gas liquefaction terminal with an annual 10 billion cubic meter capacity. The two sides will likely announce the results of feasibility studies in the first four months of 2008.
Nozari said Iran could be a trustworthy partner for Switzerland in oil and gas sectors.
He made the statement in his meeting with Swiss Minister of the Environment, Transport, Energy, and Communication Moritz Leuenberger