The contracts were signed on Monday in a ceremony held in the presence of Iranian Minister of Petroleum Bijan Zangeneh between PEDEC and Iran Industrial Pumps Company, Pumpiran and PetCo.

According to the National Iranian Oil Company (NIOC), the contracts are aimed at building 50 pumps and maintaining them for a five-year period. The value of the contracts is valued at roughly 48 million Euros.

Construction of the Goreh-Jask pipeline and the crude oil export terminal at Jask Port are among the priority plans of the National Iranian Oil Company, which are being implemented by tapping the maximum capacity of domestic contractors and manufacturers.

The project includes construction of approximately 1,000 kilometers of 42-inch pipelines, five pumping stations, measuring and monitoring equipment, construction of storage tanks and export jetties,

By implementation of the project, one million barrels of crude oil per day from the Goreh oil terminal in the southern province of Bushehr is supplied to the Jask region off the coast of Oman Sea, and Jask will become strategically important as the country’s second-largest crude oil export terminal.