Middle East Economic Survey

VOL. XLVIII

No 51

19-December-2005

IRAN

Shell Admits $100Mn Cost Overrun On Soroush/Nowruz Development

The redevelopment of Irans offshore Soroush and Nowruz fields has cost 12.5% ($100mn) more than the planned budget of $800mn, a Shell official has confirmed to MEES. The admission follows Iranian press reports of 12 December, which quoted Mehdi Atrianfar, Soroush/Nowruz Project Manager at the National Iranian Oil Companys (NIOCs) Iranian Offshore Oil Company (IOOC)...