Eni expected to sign $1.5b deal with Iran

TEHRAN, May 20 (MNA) – National Iranian Oil Company (NIOC) and Italian Eni SpA are in the final stages of signing a $1.5 billion contract for the 3rd development plan of Darkhovin oilfield, the project manager said here on Wednesday.

The Mehr News Agency quoted Ali Sakhaii as saying that, “Since Eni has taken part in Darkhovin’s first and second phases of development, it is highly probable that NIOC will award the third phase of the development plan to the Italian company as well.”


“Eni has started feasibility studies of the project and we are currently analyzing the results to finalize the agreement,” he added.


“In case NIOC does not come to terms with Eni, the project will be vested to other foreign investors or domestic firms,” Sakhaii concluded.


Darkhovin, a field in southwest Iran near the Iraqi border, is being developed by Italy’s oil and gas group Eni for Iran’s Arvandan Oil and Gas Company, a subsidiary of the NIOC.


Eni signed a $550 million deal with Iran’s state oil company in 2001 to develop the field. It brought the first phase on line in 2005 and is now active in the second phase.


Currently, phase two of the Darkhovin oilfield produces some 100,000 barrels of oil per day which will be boosted to 160,000 bpd upon finishing the development plan.






News Code 33879

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