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FinancialNews


  • 14-12-20

    Goreh-Jask oil pipeline saves Iran over USD 605M

    (MENAFN)Managing Director of Petroleum Engineering and Development Company (PEDEC) stated that, the implementation of Iran"s strategic Goreh-Jask oil pipeline by domestic contractors has saved the country over "500 million (about USD 605 m).

    The first stage of the stated pipeline project amounted at 80 percent of physical development and is nearing completion according to the schedule. This stage will give the country alternative route for crude oil exports that are at present transferred through the Strait of Hormuz.

    The accomplishment of the project till now has created direct jobs for 8,000 people, while providing indirect job opportunities for over 15,000 people as well, declared Touraj Dehqani.
    The first stage of this project with a capacity to transfer over 300,000 barrels of crude oil per day will be set for operation by the end of this year in the Iranian calendar, he added.

    MENAFN14122020000045011369ID1101275263

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