Offshore Construction: News for Oil & Gas and Hydrocarbon Industries  Membership Services »
Gulf Oil and Gas grow your business
Home News Events Projects Tenders Unconventionals Community | My Account Gulfoilandgas rss feed Follow us on Facebook  Jobs 
Products and vendors Services and providers Oil & Gas Software and publications

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 >>

Russia Economy in April 2014
Russia >>  4/17/2014 - Russia’s GDP growth in 4Q13 advanced by 2% y-o-y following 1.3% growth in the previous three months. The weaker rouble helped compensate for sluggish ...
CB&I Awarded CATOFIN Technology by Shandong Chengtai
China >>  4/15/2014 - CB&I has been awarded a contract by Shandong Chengtai Chemical Industry Co., Ltd. for the license and engineering design of a grassroots iso-butane de...

CB&I Awarded Contract for the South Caucasus Pipeline Expansion Project
Azerbaijan >>  4/14/2014 - CB&I has been awarded a contract valued in excess of $85 million by a consortium led by BP for engineering and project management services for the dev...
FMC Awarded $322m Contract for BP's Shah Deniz Stage 2 Project
Azerbaijan >>  4/14/2014 - FMC Technologies, Inc has received an order from BP to supply subsea systems for its Shah Deniz Stage 2 project in the Caspian Sea. The order has an e...

Shah Deniz Awards $750 million Contracts for Stage 2
Azerbaijan >>  4/10/2014 - The Shah Deniz consortium is pleased to announce that the Stage 2 project continues to progress on schedule with further major construction and supply...
China Oil Demand in March 2014
China >>  4/7/2014 - China’s oil demand continued its increasing trend with January 2014 growth of around 3% y-o-y. This was largely determined by rising gasoline, LPG, je...



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 |


More News

Oil & Gas Companies in Iran >>

Related Links

Countries Quick Links

AZ BD CN GE 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 E-Marketplace - Promote your Business - About Us
Copyright © Universal Solutions All rights reserved. Privacy Policy. - Contact Us