Middle East Economic Survey

VOL. XLIX

No 51

18-Dec-2006

IRAN

NIDC Awarded $300Mn Contract For Azadegan Development Drilling

The National Iranian Drilling Company (NIDC) has been awarded a $300mn contract for development drilling in the Azadegan oilfield. The contract was signed on 13 December by NIDC and PetroIran Development Company (Pedco), the National Iranian Oil Company (NIOC) subsidiary, acting as project coordinator on behalf of majority shareholder Naftiran Intertrade Company (NICO), which...