Middle East Economic Survey
VOL. XLVIII
No 23
6-June-2005
Iran
NIOC Cancels Resalat/Reshadat Oilfields Redevelopment EPC
The National Iranian Oil Company (NIOC) has canceled engineering, procurement and construction (EPC) contracts for redevelopment work in the offshore Resalat and Reshadat oilfields, and plans to develop the projects under buyback contract terms instead. Abolghasem Hassani, Managing Director of NIOCs Iranian Offshore Oil Company (IOOC) subsidiary, said on 28 May that EPC contracts...
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