Iran invests $0.5 b in India's oil projects
Azerbaijan, Baku, June 21 /Trend/
Iran invests $500 million in India's two offshore oil projects, Pananews reported quoting Deputy Head of Iranian Offshore Engineering and Construction Company Amir Saeed Najafi as saying.
"Iran is participating in two offshore oil projects with India which includes NHRC project and Hindustan Divan," he said.
The development moves in accordance with schedule. NHRC project has progressed by 60 percent and Divan project by 90 percent in executive development.
Najafi noted Iranian Offshore Engineering and Construction Company would reconstruct six oil platforms in these two projects in a joint consortium with Indian company.
The $220 million contract, to be implemented by Iranian Offshore Engineering and Construction Company, is expected to increase India's oil production capacity by 238,000 barrels of oil per day.