An Iranian oil official says $4b worth of contracts has been signed for the 12th phase of South Pars gas field with South Korean and Italian firms.

“The agreement for South Pars phase 12's second part (EPC2) which valued at around $2b was recently signed with South Korean Daelim Company joined by Iranian companies,"" Petropars CEO Gholamreza Manouchehri said Monday.
He added that the contract for the third part of the same phase (EPC3), worth around $2 billion, had already been signed with Italian Company Tecnimont and Iranian companies Nargan, Dorriz and Gamma.
The Contract with Tecnimont and the Iranian companies was signed earlier in July 2009. The consortium plans to complete the plant by 2012.
The project for the development of phase 12 of the South Pars Gas Field, which is on the border with Qatar and considered the largest gas deposit in the world, foresees the set up of a Gas Treatment Plant with 3 billion cubic feet per day capacity and includes Liquid Processing (EPC2), Gas Processing (EPC3) and off-site facilities.
The National Iranian Oil Company (NIOC) owns Petropars through a holding company called Naftiran Intertrade Company.
When developed, South Pars Phase 12 will feed a liquefied natural gas (LNG) project and provide additional gas for Iran's domestic network.
(Source: Press TV)