Apr 22, 2007, 5:35 PM

Iran’s IOEC projects value to reach $4bn by March

TEHRAN, April 22 (MNA) – Domestic and overseas projects of the Iranian Offshore Engineering and Construction Company (IOEC) will soar to $4 billion in current Iranian year (started on March 21, 2007) from $2.2 billion in the past year, said IOEC Managing Director Massud Soltanpur on Sunday.

The South Pars (SP) phases 9-10, the IOEC’s last project, is near completion and its pipeline and the platforms will be installed till next month, he added.

The gas will be injected into the pipeline by mid-November, said the official.

The company is also implementing projects in Turkmenistan, Malaysia, Nigeria, and India, he added.

IOEC is the first Iranian general contractor in oil and gas industries, specializing in offshore engineering construction, pipe-coating, pipe-laying, and installation of jackets, topsides, etc.

The company was established in 1993 and operates in the Persian Gulf.

NK/KK

END

MNA

News ID 23039

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