Contract talks continue over Iran's rigs

Iran Materials 5 June 2012 17:27 (UTC +04:00)

Azerbaijan, Baku, June 5/Trend M. Moezzi

The 12 onshore drilling platforms that Iran plans to build domestically will be constructed by the Fan Avaran Parsian Company and the Science and Industry Jihad University, but talks continue over the
project's costs.

The Oil Ministry of Iran's Kala Naft Company will oversee the project, the Iranian Students' News Agency (ISNA) reports.

The contract for the project was scheduled to be signed on May 15.
That has been delayed because officials are finalizing some legal, technical and financial issues said Hamid Reza Tayebi, who head the Science and Industry Jihad University.

Tayebi said the conditions laid out in the contract were strict. It would be difficult to take on such a project with a 25 percent advance payment and tough fines that are outside the norm.

Talks are ongoing over the project's price.