Petroiran Development Company (Pedco) is taking possession of a $300 million floating production, storage and offloading vessel for use at the South Pars Oil Layer project, write Vahe Petrossian and Xu Yihe.
The FPSO was built in Singapore and is now in Persian Gulf waters, said Pedco managing director Roham Qasemi.
The builder of the vessel is unknown. Chinese yard Cosco had been negotiating a contract with state-owned Petroleum Engineering & Development Company (Pedec) for a $350 million FPSO at the turn of the decade, but the company this week denied being involved.
Iran’s
