An agreement has been signed between a subsidiary unit of National Iranian Oil Co. (NIOC) which is Engineering and Development Co. (PEDEC) with a local firm Petro Omid Asia Co. to build a crude oil storage facility near Iran’s southern port of Jask with an initial investment of 200 million euros ($232 million). The facility will have a total capacity of 10 mln barrels on a build-operate-transfer in Jask which is located on the Gulf of Oman Coast.
