VOL. XXXIV

NO. 35

3-JUNE-1991

Iran

Total Signs Major Deal with Iran on Offshore Oilfield Development, CrudePuchase and Prefinancing

France's Total has concluded a major deal with the National Iranian OilCompany (NIOC) comprising development of offshore oilfields, a substantialcrude oil purchase contract and financial arrangements with a consortium ofbanks for payment in advance to Iran for the crude oil purchases.

A letter of intent signed between Total and NIOC on 29 May in Isfahan (wherea big oil...