Toyo Engineering Corporation (TEC) and JGC Corporation (JGC), in a joint venture with Industrial Development and Renovation Organization of Iran and Daelim Industrial Co., Ltd., has won a contract for a large-scale gas processing plant, the largest single plant of its class in the world, from Petropars Ltd., a subsidiary of the National Iranian Oil Company, planned in the Bandar Assaluyeh region.
The contract signing ceremony for this project was held on May 17 in Teheran.
The joint venture will provide design, procurement, construction and commissioning services for a natural gas processing plant with a throughput of 3,000 mmscfd and offsite utilities. The value of the contract is approximately US$ 1,200 million. Completion is scheduled for end of 2006.
The plant consists of three sets of 1,000 mmscfd capacity production facilities to manufacture LPG and condensate from a natural gas recovered from the 6th, 7th and 8th mining areas of Iranian state-owned South Pars gas fields, 100km offshore from Iran.
The project has been given top priority in the Iranian government's third five-year plan and is an important energy-related project aiming for a stable energy supply for Japan, in which both Japanese and Iranian governments cooperate to promote development.
Moreover, this is the first time for TEC and JGC to be jointly handling such a large project, and it was the combination of these companies' strong points, such as project experience in Iran and the energy field, that resulted in this contract being awarded.
May. 19, 2003