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Iran to concluded $3.5 billion oil deal with Nigeria
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SPECIAL TO WORLD TRIBUNE.COM
Wednesday, January 3, 2007
NICOSIA — Iran plans to enter into a joint oil venture with Nigeria.
Officials said the two countries would establish an oil development
company. They said the joint venture by the state-owned Iranian Offshore
Engineering and Construction Co. [IOEC] and the Nigerian National Petroleum
Corp. would design, construct and install offshore platforms.
IOEC has been working with Malaysia's Petronas and Norway's Shell on a
project in Turkmenistan, Middle East Newsline reported. Officials said the company plans to install a
4,000-ton hoist rig in Malaysia in February 2007.
The Iranian company reported $3.5 billion in total contracts. Officials
said $1 billion of the deals were comprised of foreign projects.
Copyright © 2007 East West
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