VOL. XLV

No 21

27-May-2002

IRAN

IranAwards $585Mn Foroozan/Esfandiar Deal To Pedco, Cutting Out BHP

IransOil Ministry has taken the international oil community by surprise by awardinga $585mn oilfield development contract to domestic firm PetroIranDevelopment Company (Pedco) alone, after lengthydiscussions about giving the project to a joint venture of Pedcoand BHP Billiton. MEES soundings indicate thatdespite the long negotiations, differences still remained between the NationalIranian Oil...