VOL. XLVII

No 21

24-May-2004

IRAN

Irans Balal Field Inaugurated

The Balal oilfield production facilities offshore Iran were officially inaugurated on 16 May by First Vice-President Mohammad Reza Aref and Minister of Petroleum Bijan Zanganeh. The field was developed by Total under a buyback contract in which interest holders were: operator Total 46.75%, Eni 38.25% and Bow Valley 15%. Total handed over operatorship of Balal to the National Iranian Oil Company (NIOC) in September 2003 (MEES, 22...