TEHRAN – The Khatam 
al-Anbia Construction Base, a conglomerate belonging to the Islamic Revolution Guards Corps, undertook a project to boost pressure at the South Pars gas field in the Persian Gulf.
The Khatam al-Anbia Construction Base signed a contract with the Iranian Oil Ministry on Saturday to carry out the project.
The pressure-boosting project aims to address pressure drops, maintain maximum gas production, reduce gas and gasoline imbalances, and prevent gas flow to Qatar from the shared gas field.
The major project encompasses engineering, procurement, construction, transportation, installation, and commissioning of pressure-boosting platforms.
Iranian President Masoud Pezeshkian and the managers of the oil industry attended a ceremony in Tehran to sign the contract.
This initiative will involve the construction and installation of 420,000 tons of equipment and structures —twice the current offshore capacity of the South Pars field— as well as the establishment of 600 kilometers of underwater pipelines, the president’s website reported.
In addition to creating at least 17,000 direct and 50,000 indirect jobs, the project is expected to enhance the know-how and capabilities of the Iranian companies and support domestic production.
An estimated investment of approximately $17 billion is expected for this project, with projected revenues reaching $780 billion by the Iranian year 1430 (2052).
 The minister of oil Mohsen Paknejad announced that an average annual investment of $19 billion is required over the next four years to achieve a daily production of 1.34 billion cubic meters of gas.  
Paknejad emphasized that there should be no delay in implementing the pressure enhancement plan for the South Pars gas field.
Paknejad stated that seven months into the 14th administration’s term, the signing of one of the largest contracts in the history of Iran’s oil industry marks a crucial step toward revitalizing the South Pars gas field.
He added that, according to the quantitative goals set in the Seventh Development Plan, the country’s crude gas production is expected to reach 1.34 billion cubic meters per day by the end of the plan. Achieving this target requires the development of gas fields and the implementation of production maintenance projects to prevent output decline.
The minister explained that expert estimates indicate that development and production maintenance projects will require approximately $75 billion in investment.
Of this, $53 billion will be allocated to developing new gas fields, while $22 billion will be dedicated to production maintenance projects, including the South Pars pressure enhancement plan.
Paknejad stressed that reaching the daily production target of 1.34 billion cubic meters of gas over the next four years will require an average annual investment of $19 billion.
Securing this level of investment demands meticulous planning and the effective utilization of all financial and monetary capacities within the country. The Oil Ministry has developed programs to optimally leverage these capacities, including resources from the National Development Fund and investments in energy-related industries such as electricity and petrochemicals, as outlined in the Seventh Development Plan.
He noted that Iran and Qatar have jointly extracted gas from the South Pars field over the past three decades, and it is natural for the field to experience pressure decline over time.
Qatar has already taken steps toward pressure enhancement by ordering necessary platforms and turbo-compressors, with plans to implement the enhancement within the next two years. This move will not only increase pressure in Qatar’s northern dome and boost their production but could also lead to some of Iran’s gas flowing toward Qatar due to pressure differences, underscoring the urgency of implementing the pressure enhancement plan in Iran.