Tehran Times reported that Iranian Offshore Engineering and Construction Company have completed the building of an offshore platform for the Indian Oil Corporation.

Mr Amir Saeid Najafi Haqqi deputy head IOEC said that the project, dubbed as the D1-Development was the fourth project to be implemented by the Iranian Offshore Engineering and Construction Company in India. This is while the IOEC is also busy with developing Iran's South Pars gas field's phases 12, 15, 16, 17 and 18.

India has allowed state refiners to import Iranian oil, with Tehran arranging shipping and insurance from July 1st 2012 keeping purchases of over 200,000 barrels per day flowing after European sanctions hit insurance for the cargoes.

India, one of Iran's biggest crude buyers has just secured a waiver from US sanctions which target Tehran's nuclear ambitions by cutting imports over 20%.

Source - Tehran Times

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