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
Products and vendors Services and providers Jobs

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 >>

China Economy in December 2014
China >>  12/18/2014 - Chinese economic activities continue to lose momentum. Fixed investment, industrial production, retail sales and new loan growth all slowed in October...
2H Offshore to Deliver Conductor-Supported Platform to Malaysia
Malaysia >>  12/16/2014 - 2H Offshore, an Acteon company, will deliver a lightweight conductor-supported platform for EQ Petroleum Developments Malaysia Sdn Bhd for installatio...

Russia Economy in December 2014
Russia >>  12/15/2014 - In November 2014, the ruble experienced its steepest depreciation since January 2009. It fell nearly 13% last month compared to the US dollar. This me...
Swiber Wins $710 Million EPCIC Contract in West Africa
Singapore >>  12/15/2014 - Swiber Holdings Limited (Swiber), a leading global provider of integrated offshore construction and support services to the oil and gas industry, has ...

India Oil Trade in December 2014
India >>  12/11/2014 - In October, India’s crude imports declined by 46 tb/d or 1% from the previous month to average 3.7 mb/d, showing an annual gain of 108 tb/d or 3%. Ind...
China Oil Demand in November 2014
China >>  12/10/2014 - In China, oil demand growth in September 2014 remained solid. The structure of Chinese oil demand was characterized by high LPG demand for the petroch...



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 |

More News

Oil & Gas Companies in Iran >>

Related Links

Countries Quick Links

AZ BD BN 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 B2B marketplace:   About -  Advertising -  Competitive Intelligence -  Talent Solutions -  Membership Services Follow us on Facebook
Copyright © Universal Solutions All rights reserved. Privacy Policy. - Contact Us  Gulfoilandgas rss feed