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German firm wins major Iran deal for offshore jobs

Iran;s ISOICO has signed a major deal with Germany’s Nordic Yards over the construction of offshore facilities.

Iran on Thursday signed a major deal with Germany’s Nordic Yards, a global developer of maritime installations, over the construction of offshore facilities that are expected to be used in the Iranian oil and gas projects. 

Nordic Yards signed the deal with Iran Shipbuilding and Offshore Industries Complex (ISOICO). It mainly envisages the construction of various kinds of drilling rigs for ISOICO as well as their related facilities and structures. 

The transfer of technology and also the joint marketing of mutual products and services are two other key parts over which ISOICO and Nordic Yards will also cooperate, IRNA reported.  

ISOICO – which is based in Iran’s southern port city of Bandar Abbas – is considered as the biggest shipbuilding company in the Middle East with an experience of over 30 years.  It specializes in the construction of oceangoing ships as well as the construction and maintenance of offshore oil and gas platforms.   

Nordic Yards describes itself as one of the world's leading developers and manufacturers of technologically sophisticated and innovative maritime structures

Iran has been suffering from a shortage of drilling rigs – both offshore and onshore – over the past years and mostly had to rent rigs from international suppliers at high rates to press ahead its oil and gas projects. 

The US-engineered sanctions against Iran – that intensified in 2011 – added to the hardships for Iran to provide rigs thus contributing to the slowing down or the total halt in several projects. Iran today specifically needs the rigs for tapping into the lucrative hydrocarbon reserves in the Persian Gulf.     


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