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FinancialNews
21-07-20
Domestic compacts ink deal to build up South Azadegan oil field
(MENAFN) On Monday July 20 Iranian Petroleum Engineering and Development Company (PEDEC) and Petropars Group signed a deal for carrying out the growth of South Azadegan oilfield in addition to building a Central Treatment Export Plant (CTEP) with a capability of 320,000 barrels per day (bpd) at the field.
Shana accounted that the deal, worth 961 million USD, plus 11.83 trillion rials (about 281.66 million USD), was signed by Touraj Dehqani PEDEC Managing Director and Hamidreza Mahmoudi Petropars CEO at the presence of Bijan Namdar Zanganeh the Oil Minister.
The deal is meant at raising the field's manufacture capability to 320,000 bpd in excess of a 30-month period.
Beneath the structure of the deal, the outworker is indebted to drill 35 wells, set up 50 down hole ESP pumps, total two middle division plants, build 328 km of flow pipelines, 45 km of communication pipelines and 65 km of gas and crude oil transmission pipelines from the CTEP to the West Karoun Pumping House and to the NGL 3200 place.
MENAFN2107202000450000ID1100516104
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