Deal to Build Storage Units Near 3 Ahvaz Oilfields

The National Iranian South Oil Company and Petro Gohar Farasahel Kish Company have signed a non-disclosure agreement, based on which the latter will develop oil storage infrastructure in Ahvaz oilfields in southern Iran.
The agreement, signed by NISOC Managing Director Bijan Alipour and PGFK's CEO Mohammad Taqi Sadatipour obliges PGFK to build oil storage units in three oilfields, namely Ahvaz-2, Ahvaz-3 and Ahvaz-5, Shana, Oil Ministry's news portal, reported.
The initiative, which follows the engineering, procurement and construction (EPC) terms of contracts, will commence by the summer end and is slated for completion in two years. 
Direct and indirect costs of the plan are estimated at of $300 million.