Iranian firm bags Indian oil project

Quoting officials, a PressTV report said a consortium of India's Essar Offshore Subsea Limited and IOEC offered a quotation of USD 235 million to emerge as the lowest bidder for India's D-1 field development project.

IOEC Managing Director Ali Taheri said the D-1 field is located about 200 kilometres west of Mumbai in the deep continental shelf, at a depth of 85 to 90 metres.

The project, which has a completion deadline of 12 months, involves the installation of three smart well platforms along with three rigid and flexible pipelines, as well as sub-sea cables.

IOEC is Iran’s first offshore general contractor.

It designs, supplies, constructs and installs sub-sea pipelines along with fixed process platforms.

The company plans to extend its oil, gas and petrochemical activities to upstream and downstream projects in both onshore and offshore areas.