Middle East Economic Survey

VOL. XLIX

No 1/2

2/9-January-2006

IRAN

First Gas For North Sea Field In Which NIOC Subsidiary Holds Equity

The Rhum gasfield in the UK North Sea, in which National Iranian Oil Company (NIOC) subsidiary Iranian Oil Company UK Ltd holds a 50% equity interest, began production on 20 December. Field operator and 50% equity holder BP announced that the Rhum development had cost 350mn and was the worlds first high pressure, high temperature gas reservoir developed using a...