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Darkhovain Phase 3 Contract Finalized

Source: www.gulfoilandgas.com 11/21/2012, Location: Asia

According to Petroleum Engineering and Development Company’s (PEDEC) Public Relations, “The contract of Darquain Phase 3, located in the west of Karoon, was finalized with a consortium of Iranian banks and contractors.” Managing Director of PEDEC said.

He said “The wells’ platforms are ready and we are preparing the site for drilling of five wells, three of which have considerable progress. Besides, we are purchasing drilling rigs for the field.”

Managing Director of PEDEC said each partners is responsible in the consortium for every act of the contract. He also said the contract for the development of Darquain Phase 3 is a 60-month contract; however, we will have an early production of 14000 barrels of oil per day within three years.

He said the final production of this phase will be 60000 barrels of oil per day added up to the current daily oil production of 160000 barrels.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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