1st Iran-European post-sanctions oil contract signed

TEHRAN, Aug. 09 (MNA) – Italian Versalis signed a Technology Transfer Contract with National Iranian Petrochemical Company.

Prior to removal of anti-Iran sanctions, Versalis, Eni’s chemicals company, became the first European body to sign a post-JCPOA contract with Iran, according to an official report issued by National Iranian Petrochemical Company (NIPC).

Formerly called Polimeri Europa, Versalis is Italy’s largest chemical company by sales, production volumes and number of employees who agreed to join a trilateral contract of Technology Transfer (TTC) along with two commissioning bodies: Italy’s Tecnimont and an Iraninan company, with Iran’s NIPC.

Italian Foreign Minister Paolo Gentiloni and Italian Minister of Economic Development Federica Guidi were just in Tehran last week and had meetings with a couple of ministers of Rouhani’s cabinet.

The Italians seemed to return with no finalized contract or deal signed even after the meetings of Iran’s Oil Minister Bijan Namdar Zangeneh with Claudio Descalzi, Chief Executive Officer of Eni who talked over the resumption of phase 3 of the Darquain oil field development in the Khouzestan Province of Iran and a host of other projects.

Along with Darquain, in 2005-12, Eni was also active in South Pars Phases 4 and 5 projects, and 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.


News Code 109134


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