Norwegian oil and gas company could secure major contract in Iran

Helma Vantage

The Norwegian oil and gas company Helma Vantage is in the process of signing a gas deal worth five billion with an Iranian company.

That is, according to the Financial Times, one of the first major gas deals since the international sanctions against Iran were lifted, writes newspaper Dagens Næringsliv.
The contract says that Hemla and Iranian Kharg Petrochemical Company (KPC) will establish a joint venture which will be producing and exporting liquefied natural gas by 2017.
The contract is worth $ 600 million (five billion kroner).
Hemla is company that is establishing partnerships in the oil and gas industry, but has seen little visiblity in the media.
“Iran will really go from being a traditional player to a modern player. No one would have believed that Iran would be first in the world to produce liquefied natural gas from a floating production vessel (FLNG) in 2017,” says chairman Gerhard Ludvigsen FT.


Source: NTB scanpix / Norway Today