Baku, Azerbaijan, May 23
By Fatih Karimov – Trend:
The state-owned National Iranian Oil Company (NIOC) will on May 24 sign its first contract with a foreign firm after the removal of international sanctions last year.
The contract will be signed between the NIOC and a consortium composed of Spanish Tubacex and Iranian Esfahan Steel Company for providing CRA (corrosion resistant alloy) pipes, the Oil Ministry’s SHANA news agency reported May 23.
Under the contract, worth almost $550 million, the Spanish-Iranian consortium will provide 600 kilometers of CRA pipes for NIOC’s Pars Oil and Gas Company, which is responsible for development of South Pars gas field, Iran’s largest gas field shared with Qatar.
The technology for manufacturing the CRA pipes will be transferred to Iran as well by the Spanish company.
Tubacex is a global leader in manufacture of stainless steel and high-alloyed seamless tubes. It has production plants in Spain, Austria, China, Italy, the United States and India, providing tubes for oil and gas, petrochemical and power generation industries.