DUBAI (Reuters) – A unit of the National Iranian Oil Co. (NIOC) signed a deal with a local firm on Sunday to build a storage facility near Iran’s southeastern port of Jask with an initial investment of 200 million euros ($232 million), the oil ministry news website SHANA reported.
State-run NIOC’s subsidiary Petroleum Engineering and Development Co. (PEDEC) signed the agreement with Petro Omid Asia Co. to build the facility with a total capacity of 10 million barrels on a build-operate-transfer (BOT) basis in Jask, which is located on the Gulf of Oman coast, SHANA said.
Omid Investment Management Group Co. also signed the deal, under which construction should be completed within three years, SHANA added.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.