VOL. XLVI

No 6

10-February-2003

IRAN

NIOC Budget Constraints Force Revisions To Buyback Program

This article comprises edited extracts from the confidential report Iran Oil/Gas Industry: Outlook for 2003 and Beyond, prepared for clients in early February by Fereidun Fesharaki, President of FACTS Inc, Honolulu, and exclusively made available to MEES.

The outstanding oilfield development buyback contracts offered by the National Iranian Oil Company (NIOC) are the Bangestans (the Bangestan formations...