Iran’s SAFF bags €800-mln IOOC deal

Iran

TEHRAN, October 9, 2017 – The Iranian Offshore Oil Company has awarded a package of contracts worth EUR 800 million to local EPC provider SAFF Group.

The deal covers work on an NGL plant on Iranian hydrocarbons hub Kharg Island, as well as a gas sweetening and separation project in the Kharg and Bahregan areas and sales services for “items heavier than ethane,” according to Ministry of Petroleum news portal Shana.

The SAFF group of companies is headed by SAFF Offshore Industries, which provides EPCC services for onshore and offshore platforms, structures and facilities, as well as for ports, oil terminals and subsea pipelines for the Iranian oil and gas industry. SAFF Offshore Industries has 24 subsidiaries.

A subsidiary of the National Iranian Oil Company, the Iranian Offshore Oil Company is a state-owned upstream company operating in Iran’s offshore. Its production accounts for around 33% of Iran’s oil exports.