Iran, China sign excavation agreement
LONDON, January 19 (IranMania) - Iran and China signed an agreement in excavation, Iran's State News Agency (IRNA) reported.
The agreement was signed between Managing Director of Iran's North excavation Company Heydar Bahmani and Deputy Managing Director of China's COSL, Jo min Goa.
COSL will be responsible for maintenance, repairs, and management of semi-floating Iran-Alborz platform to be set up in the Caspian sea for a three year period.
The contract value is about $33 million.
Bahmani said before the Islamic Revolution over 47 companies mostly eastern concerns were active in excavation in Iran.
However, today Iranian personnel are able to excavation for up to 90 meters of depth.
China has garnered solid experiences in this sector for drilling up to 300 meters and COSL has a 40-year history in this respect.
An international tender was held with participation from Western companies, but COSL due to reasonable prices and interest of China to cooperate with Iran was selected.
Bahmani added that Iran, China cooperation in all areas, notably energy is on the rise.
He said that the Chinese company is also ready to provide Iran with additional services in implementing the project, hence the contract value may increase in the future.
The Chinese ambassador to Iran Lio G Tan also present in signing ceremonies said that Iran has taken a major step in excavation in Caspian Sea.
Tan added that the contract value is relatively low compared to other bilateral agreements but it is important for Iran to take a step in this area.
Although oil production in China is much lower than in Iran, but its 170 million tons of oil production ranks fifth in the world.
China with high economic growth needs higher energy resources.
China has imported over five billion of crude oil from Iran last year.
He said that both Iran and China are faced with bias from major powers and should accelerate their development.
The Chinese Ambassador said the trade between Iran and China exceeds $10 billion and China is to become Iran's primary trade partner in the near future.
He said the Chinese embassy will do its part and be a bridge between the two sides to resolve their issues and improve bilateral trade.
He highlighted the importance of mutual cooperation in the energy, power, metallurgy, telecommunications,, shipbuilding, transportation and water sectors.
Lio said abundant natural resources, big market, geographical location and educated workforce are among relative advantages of Iran, stressing expansion of mutual cooperation.
The agreement was signed between Managing Director of Iran's North excavation Company Heydar Bahmani and Deputy Managing Director of China's COSL, Jo min Goa.
COSL will be responsible for maintenance, repairs, and management of semi-floating Iran-Alborz platform to be set up in the Caspian sea for a three year period.
The contract value is about $33 million.
Bahmani said before the Islamic Revolution over 47 companies mostly eastern concerns were active in excavation in Iran.
However, today Iranian personnel are able to excavation for up to 90 meters of depth.
China has garnered solid experiences in this sector for drilling up to 300 meters and COSL has a 40-year history in this respect.
An international tender was held with participation from Western companies, but COSL due to reasonable prices and interest of China to cooperate with Iran was selected.
Bahmani added that Iran, China cooperation in all areas, notably energy is on the rise.
He said that the Chinese company is also ready to provide Iran with additional services in implementing the project, hence the contract value may increase in the future.
The Chinese ambassador to Iran Lio G Tan also present in signing ceremonies said that Iran has taken a major step in excavation in Caspian Sea.
Tan added that the contract value is relatively low compared to other bilateral agreements but it is important for Iran to take a step in this area.
Although oil production in China is much lower than in Iran, but its 170 million tons of oil production ranks fifth in the world.
China with high economic growth needs higher energy resources.
China has imported over five billion of crude oil from Iran last year.
He said that both Iran and China are faced with bias from major powers and should accelerate their development.
The Chinese Ambassador said the trade between Iran and China exceeds $10 billion and China is to become Iran's primary trade partner in the near future.
He said the Chinese embassy will do its part and be a bridge between the two sides to resolve their issues and improve bilateral trade.
He highlighted the importance of mutual cooperation in the energy, power, metallurgy, telecommunications,, shipbuilding, transportation and water sectors.
Lio said abundant natural resources, big market, geographical location and educated workforce are among relative advantages of Iran, stressing expansion of mutual cooperation.
posted by Marko at 1/19/2006 01:29:00 AM
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