Iran Signs Deal With Japan’s Toyo To Boost Output At Offshore Field

18 Jul 2017   Iran, Japan

The National Iranian Oil Company (NIOC) signed on Monday a memorandum of understanding with a consortium that includes Japan’s engineering group Toyo to revamp the facilities and upgrade gas production at the Salman field in the Persian Gulf. Iranian company Petropars is also part of the consortium, Iran’s oil ministry’s news service, Shana, reported. Under the memorandum of understanding, NIOC, Petropars, and Toyo will finance studies for the rehabilitation project, but if they decide to turn the MoU into a deal, it would be an Engineering, Procurement, Construction and Finance (EPCF) contract, with the Japanese firm financing the project, Shana quoted Gholamreza Manouchehri, deputy for development and engineering at NIOC, as saying. According to Oil & Gas Journal , the Salman oil and gas field that straddles the Iranian-UAE maritime border holds 473 million barrels of oil and 5.2 bcm of natural gas. Studies for the fie from the […]

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