VOL. XLV

No 8

25-February-2002

IRAN

NIOC Awards $88MnBuyback Contract To Sheer Energy For Masjed-I-Suleyman Project

TheNational Iranian Oil Company (NIOC) has awarded a buyback contract fordevelopment work in the Masjed-I-Suleyman oilfield to Sheer Energy, Calgary. MEESunderstands that the contract is based on the original buybacks terms, sincethe initial agreement with NIOC for the work was signed before the beginning ofthe current Iranian year (21 March 2001), after which revised buyback terms...