Iran starts oil sell to Italy’s Eni

Business Materials 19 December 2016 11:22 (UTC +04:00)

Baku, Azerbaijan, Dec. 19

By Fatih Karimov – Trend:

Iran has started selling crude oil to Italy’s Eni, Mohsen Ghamsari, director of international affairs at National Iranian Oil Co (NIOC), said.

The NIOC has delivered one crude oil cargo to Eni based on a short-term contract recently, Ghamsari said, Mehr news agency reported Dec. 19.

Ghamsari added that talks are underway with Eni for signing a long-term oil contract.

Besides Eni, Iran has signed an oil export deal with Italian energy provider Saras, he said.

The volume of crude which is sold to Italy's Saras differs from 30,000 barrels per day (bpd) to 60,000 bpd, Ghamsari said.

Iran's first oil shipment for Saras will soon be sent to Italy, he said, Mehr news agency reported May 20.

Ghamsari earlier said that if the NIOC and Eni come to terms, it is likely that they settle a deal for 100,000 bpd of crude oil.

Eni also is interested to participate in Iran’s oil sector projects.

Eni came to Iran in the early 2000s. The company was to develop Phase 3 of Darkhovein Oilfield in Khuzestan Province and Phase 19 of South Pars Gas Field, but halted operations due to sanctions.

Eni is active in exploration and production sector as well as downstream projects, including refining and marketing of petroleum products. It is one of the world's major oil and gas contractors in engineering, construction and drilling projects both offshore and onshore.