Gulf Oil and Gas accountACCOUNT

Inauguration of the Darquain oil field in the Islamic Republic of Iran

Source: www.gulfoilandgas.com 7/24/2005, Location: Asia

Share |
The Darquain oil field development in the Khouzestan Province of Iran was inaugurated today in the presence of His Excellency Muhammed Reza Aref, the First Vice President of the Islamic Republic of Iran, Bijan Namdar Zanganeh, the Iranian Minister of Petroleum, and Paolo Scaroni, Chief Executive Officer of Eni.

The Darquain project, which was the first onshore oil field development to be undertaken by a foreign investor under the Iranian buy-back[1] contract, is being implemented on schedule and within budget. Eni operates the project with a 60% working interest on behalf of the National Iranian Oil Company. Eni's Iranian partner is Naftiran Intertrade Company (NICO), which holds a 40% share.

Paolo Scaroni, CEO of Eni, commented: "The inauguration of Darquain marks the achievement of an important target for Eni and its Iranian partners. It reinforces our presence and strong relationship with Iran which will contribute to increasing Eni's production. It also highlights our ability to exploit technical expertise and experience in the implementation of development projects around the world. "

At present the production from the Darquain field is 55,000 barrels a day and will increase to 160,000 barrels a day at the end of a second phase of development now underway. At the end of the second phase, Darquain Project total investment will reach US$ 548 million (Eni equity US$ 329 million).

The inauguration of Darquain follows the recent inauguration of the Eni operated South Pars Phases 4 and 5 project, consolidating the Company's activities in Iran where Eni has been present for more than 50 years.

Eni also participates in joint ventures for the development of the Dorood and Balal oil fields, both of which are located in the Iranian offshore of the Persian Gulf

Offshore Construction News in Iran >>

Singapore >>  9/27/2016 - At the end of July, products stocks in Singapore rose by 4.8 mb, reversing the fall of last month. At 55.2 mb, they were 3.4 mb, or 6.6%, above the sa...
Singapore >>  9/21/2016 - InterOil Corporation announced that at a Special Meeting held, its shareholders overwhelmingly voted to approve the transaction with Exxon Mobil Corpo...

Russia >>  9/19/2016 - In July, total crude oil exports from the FSU were almost stable from the previous month. There was a slight decline by 8 tb/d to average 6,781 tb/d. ...
India >>  9/5/2016 - In June, India’s crude imports increased by 172 tb/d, or 4%, from the previous month to average 4.3 mb/d, while y-o-y, they increased by 500 tb/d or 1...

China >>  8/29/2016 - Chevron U.S.A. Inc., wholly-owned subsidiary of Chevron Corporation, has signed a binding LNG Sales and Purchase Agreement (SPA) with ENN LNG Trading ...

Related Categories: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 

Related Articles: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 


Iran Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 |

More News

 

Oil & Gas Companies in Iran >>


Related Links

AZ BD BN CN GE HK ID IN IR JP KR KZ MM MN MY PG PH PK RU SG TH TJ TM TW UA UZ VN
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.