Germany’s IBS to Sign Deal with NIGC to Improve Iran's Gas Safety

German company IBS is negotiating to sign a deal with the National Iranian Gas Company (NIGC) on improving safety across Iranian gas industry’s facilities.

Mohammad-Reza Yousefipour, the director of the environmental, health and safety (EHS) department for NIGC's Gas Engineering and Development Company said that the negotiations were about signing a deal to improve safety across the Iranian gas industry’s facilities, Mehr news agency reported on November 24.

The German company has agreed to present its technical and price offers within the next month, he added.

It is expected that the two sides will finalise a deal by the end of the current Iranian fiscal year (March 2016), he noted.

The project is estimated to take a period of three years and will involve the training of some 100 Iranian experts. The project is estimated to cost 40 billion to 50 billion rials ($1.1-$1.4 million), he explained. 

Based on the agreement, the German company should implement the project in three phases, he concluded.