VOL. XLIV

No. 28

9-July-2001

IRAN

Zanganeh Says BHP Close To Foroozan/Esfandiar Deal

Iranian Oil Minister Bijan Zanganeh told reporters on 4 July that Australias BHP Billiton is close to agreeing a buyback deal for development projects in the offshore Foroozan and Esfandiar oilfields, along with local firm Petro-Iran Development Company (Pedco). Mr Zanganeh said, "they are negotiating to finalize the details, but we dont have any basic difficulties. We have agreed a target of 150,000 b/d, up from...