(MENAFN) Iran is setting up the mechanism for implementing a gas export project to Oman under the terms of EPCF or BOT contracts, the managing director of National Iranian Gas Export Company (NIGEC) said.
Mehran Amir-Moeini stated that his company is working on the mechanism for implementing Iran's gas export project to Oman in the form of EPCF (engineering, procurement, construction, financing), or BOT (building, operation, transfer) contracts, to take final decisions about it.
"In both methods, the project financing will be awarded to the winning bidder, with the difference that in the first method, the project risk will be shouldered by the employer while in the second method, the contractor will have to bear the project's risks," he said.
The project's aim is to export 43 million cubic meters of gas from Iran to Oman via a sea pipeline during a period of at least 15 years.
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