Middle East Economic Survey

VOL. XLVIII

No 33

15-August-2005

IRAN

Shell Hands Over Soroush/Nowruz Facilities To NIOC

Shell formally handed over responsibility for the management of the Soroush/Nowruz field production facilities to the National Iranian Oil Company (NIOC) at 8.30pm on 9 August, MEES understands. The handover marks the completion of the redevelopment of the Soroush and Nowruz offshore oilfields by Shell, under an $800mn buyback contract awarded by NIOC in 1999 (MEES, 22 November...