TEHRAN, April 15 (Mehr News Agency) -Iranian company Nargan and Italy's Technimont signed the contracts of Mahabad and Lorestan petrochemical complexes on Sunday worth 436 million Euro (each 218 million Euro) with Iran's Bakhtar Petrochemical Company.
The financer of the contract is the France's Calyon Corporate and Investment Bank, Bakhtar Petrochemical Company Managing Director She'ri Moqaddam said.
He blamed the financial shortcoming for the yearlong delay in the projects.
Due to the postponement, the projects will be launched in 2010.
ICOFC will develop 16 oilfields in the current Iranian year (started on March 21).
Under the supervision of ICOFC, the National Iranian Oil Engineering and Construction Co. (NIOEC) put the plan into the tender.
ICOFC scheduled to dig 46 wells, of which 20 are development and 26 are repair.
The company is to absorb investment on its oil and gas fields worth about $4.02 billion, of which $1.3 billion will go to oilfields, $2.4 billion to gas fields, and the remaining to the logistical plans, said Zeighami.
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