As Israel has bombed the South Pars gas field in Iran, the construction companies in Korea are on high alert. Approximately 20 years ago, Hyundai E&C, DL E&C, and GS Engineering and Construction participated significantly in the construction of this gas field.
According to the construction industry on the 17th, major construction companies including Hyundai E&C, DL E&C, and GS Engineering and Construction have been identified as having played a significant role in the development of the South Pars gas field in Iran since 1999.
Hyundai E&C secured the contract for stages 2 and 3 of the South Pars gas plant in 1999 and completed it over 40 months. In 2002, it undertook stages 4 and 5. The total construction cost amounted to $2.04 billion.
At that time, Hyundai E&C mobilized between 11,000 and 8,300 workers daily. The accommodations, restaurants, medical facilities, and convenience facilities for the personnel dispatched locally were reported to be of 'small city' standards. Hyundai E&C has been praised for contributing to establishing the presence of Korean construction in Iran by completing key processes ahead of schedule.
DL E&C followed suit by conducting phases 6, 7, and 8 of the South Pars gas plant in 2003. DL E&C participated by forming a consortium with Japanese corporations, with an equity of $220 million. This project was completed in 2009.
GS Engineering and Construction participated in phases 9 and 10 at the same time as DL E&C. The construction cost alone was $2.1 billion, which was about 200 times the size of the Sangam World Cup Stadium project. This work was also completed in 2009.
A representative from Hyundai E&C noted, 'It has currently been confirmed that the site of the major explosion due to the Israeli airstrike is not one constructed by Korean construction companies.'
On the afternoon of the 14th (local time), Israel attacked the gas field South Pars zone 14 in Iran with drones, leading to a major explosion and fire that halted gas production amounting to 12 million cubic meters all at once. The South Pars gas field holds 8% of the world's gas reserves and 42% of Iran's total gas reserves.
The South Pars gas field is located in the coastal city of Assaluyeh in Iran, about 1,000 kilometers south of the capital Tehran. This gas field was developed over 25 phases starting from 1998. Until 2011, before the economic sanctions related to nuclear issues began, Iran was the sixth-largest market for overseas construction orders from Korea.