Middle East Economic Survey

VOL. XLIX

No 5

30-January-2006

IRAN

Statoil Writes Down Costs Of South Pars 6-8 Because Of Sadra DelaysNorways Statoil has written down the $329mn book value of its share in the South Pars Phases 6-8 development offshore Iran, citing considerable cost increases and delays in work by Iranian contractor Sadra. South Pars 6-8 is expected to yield 3.9bn cfd of gas and some 150,000 b/d of condensate after Statoil proposed a capacity increase (MEES, 22 August 2005). In a...