Tehran, April 13, IRNA � Saipem, Italy's oil and gas industry contractor, and Iran's Razavi Oil and Gas Development Company have signed a memorandum of understanding for Toos Gas Field project.


Saipem's Chief Executive Officer Stefano Cao and Ali Yadgar, Managing Director of Razavi Oil & Gas Development Company signed the document on Tuesday to develop the Toos Gas Field which is located 100 kilometers north of Mashad.

The Toos Gas Field sits on 60 billion cubic meters of natural gas and it can supply four million cubic meters of gas every day.

The two companies have agreed on developing both the upstream and downstream sectors of the gas field.

A subsidiary of Eni, Saipem earlier signed an MoU with the Parsian Oil & Gas Development Co on Monday for the revamping and upgrading of the Pars Shiraz and Tabriz refineries.

By IRNA