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Saipem, Razavi and Italian Prime Minister sign MoU

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LNG Industry,

Saipem has released a statement claiming that, following a state visit to the Iran, the Italian Prime Minister (Matteo Renzi), the Saipem Chief Executive (Stefano Cao) and the Managing Director of Razavi Oil & Gas Development Co. (Ali Yadghar) entered into a Memorandum of Understanding (MoU) regarding possible cooperation in Iran.

The MoU participants will discuss potential cooperation on the Toos Gas Field Development Project, which is located 100 km northeast of Mashhad and holds 60 billion m3 of gas. The field has the potential to produce approximately 4 million m3/d of gas. The project development would include drilling five firm wells (with two optional wells), as well as the design and construction of all upstream gas production, transportation and processing facilities.

The MoU follows another agreement, which was signed in January 2016 with National Iranian Gas Co. (NIGC) and was for discussions related to possible cooperation in pipeline projects, and with Parisian Oil & Gas Development Co. about upgrading the Pars Shiraz and Tabriz refineries.

Edited from press release by David Rowlands

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