Managing director of the Iranian Offshore Engineering and Construction Company (IOECC) says it has participated in two Indian oil tenders.Each of the two offshore oil tenders are worth $1.1 billion, Mehr News Agency quoted Masoud Soltanpour as saying.
Iran is competing with South Korea, Italy, France, and the United States, he said, adding that Iranian Offshore Engineering and Construction Company had a good chance of securing the contracts.
“Constructing an onshore rig costs around 9 million euros ($13.6 million),” he said, adding that for an offshore rig the costs would amount to around 150 million euros ($222.5 million).
He also noted the important role of banks in helping contractors engaged in oil and natural gas development projects, given the huge costs involved.
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