Saipem Triune to invest in Iran's Forouzan oilfield

Nov 23, 2009 01:00 AM

India's Saipem Triune Company has won the approval of National Iranian Oil Company to invest in development of Iran's Forouzan oilfield.
The Indian firm has done the financial and technical evaluations of the plan and it is estimated that the first phase of the engineering, procurement and construction (EPC-1) contract for the development of the oilfield would soon be signed.

Forouzan oilfield is located 100 km southwest of Kharg Island in the Persian Gulf and is shared with Saudi Arabia's Marjan oilfield. Saudi Arabia's Aramco Company and the American McDermott Company are currently developing the Saudi section of the oilfield. Forouzan oilfield's development plan aims at producing 65,000 barrels of crude oil per day.
Previously British SLP Company was in charge of EPC-1 part of Forouzan oil field's development plan, but the firm withdrew from the project in 2006.

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