SHANA — National Iranian Oil Co.’s first platform for the South Pars Phase 11 gas project in the Persian Gulf has been transported to and installed at the offshore location, according to news service Shana.
Managing director Mohsen Khojastehmehr said the project would also increase Iran’s revenue by about $5 billion/year.
He also said the country was in talks with near neighbor Oman on maximizing oil production from the offshore Hengam Field in the Strait of Hormuz. The two countries signed an agreement on a joint study last month.
They aim to prepare a master development plan for the field, along with further development and bilateral cooperation on exploitation of the resources.