Middle East Economic Survey


No 33



Petrobras Awarded Exploration License For Irans Tusan Block

The National Iranian Oil Company (NIOC) has awarded an exploration license for the Tusan block in the Gulf to Brazils Petrobras. NIOCs PIN news service reported on 14 July that Petrobras had agreed to spend $34mn in exploration activities on the block, which covers 3,200 sq miles, over a period of up to four years. Tusan was opened to tender by NIOC in early 2003, as one of...