NIOC to continue signing oil contracts with local firms

SHANA — The CEO of the National Iranian Oil Company (NIOC) said the company was to sign 9 contracts with domestic companies for oil production enhancement and maintenance projects.

Addressing a ceremony to sign several contracts between the Petroleum Engineering and Development Company (PEDEC), an NIOC subsidiary, and local firms for building electro-pumps for the purposes of the project on Monday, Masoud Karbasian said NIOC would continue signing contracts with domestic firms for its projects.

He said the $1.8b Goreh-Jask pipeline project would entail construction of 5 pumping houses valued at 143 million Euros, 1,000 km of 42-inch pipeline, construction of 20 500,000-barrel storage tanks, construction of Jask oil export terminal, etc. which will all be constructed by relying on domestic forces.

Karbasian said that for construction of each section of the project many jobs would be created in the country, besides tapping the potentialities of domestic producers.

He said currently, 30,000 tons of steel slaps are being produced by Oxin Steel Company and 20 km of the pipeline has been built, so far.