Saipem to contribute to development of Iran’s Tus gas field

Business Materials 13 April 2016 19:56 (UTC +04:00)

Baku, Azerbaijan, Apr. 12

By Farhad Daneshvar - Trend:

Saipem SpA, an Italian oil and gas industry contractor, and Iran's Razavi Oil and Gas Development company have signed a memorandum of understanding (MoU) for cooperation. Saipem SpA Chief Executive Officer Stefano Cao and Managing Director of Razavi Oil and Gas Development Company Ali Yadqar have agreed to cooperate in the development of Tus gas field in north-eastern Iran, IRNA news agency reported. According to the report the gas field has 60 billion cubic meter of proved gas reserve and a capacity of producing four million cubic meter of gas per day.

The development project involves the digging operation of five main wells as well as planning and construction of all upstream and downstream facilities, the report said. IRNA added that the MoU for developing Tus field comes following a previous deal between Saipem and National Iranian Gas Company for a possible contract on the construction of a gas pipeline. Earlier Tehran and Saipem held talks for the construction of Iran's ninth cross-country gas pipeline.

The 1,900 km long pipeline is expected to deliver 110 million cubic meters of natural gas per day from Asalouyeh gas field to north western regions of Iran.