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Petropars Wins Forouzan Oil Field Development Tender

  Petropars Wins Forouzan Oil Field Development Tender

The Managing Director of Petropars released the happy news that Petropars Group won the tender held for the maintenance and increase of production level of the joint Forouzan Oil Field.

According to a report by the Public Relations and International Affairs Department of Petropars Group, Engineer Hamid-Reza Masoudi described the ceding to Petropars Group of the Project for Development of Forouzan Oil Field as very significant and valuable, and added, “Forouzan Oil Field Project was ceded by Iranian Offshore Oil Company (IOOC) as the Client, within the scheme of EPC-EPD, to a consortium comprising Petropars Limited (PPL) and ISOICO, with Petropars being the leader of consortium.”

He went on to further say, “The subterranean underground section of the Project consists of drilling of 12 new wells, 11 repair wells, and 3 Re-Entry wells while the surface section will comprise erection of 3 offshore pipelines measuring 27 km in length, fabrication and erection of 2 new platforms and cabling of 4 fiber optic networks.

The value of the contract for development of Forouzan Oil Field Project will amount Euro 290 million, which will contribute to diversification of the activities and operations undertaken by Petropars Group and further expansion of the chain value of Petropars Group. It will further contribute to enhancement and increase of domestic capabilities of Iranian contractors.

It merits stating that Forouzan Oil Field is located 100 km East-South of Khark Island in the Persian Gulf and adjoins Marjan Oil Field of Saudi Arabia.       

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Established in 1998, Petropars Ltd. (PPL) was founded in order to contribute towards the development of Iran’s vast energy resources PPL specializes as a developer of exploration exploitation and production in upstream projects... Read more