VOL. XLIII

No. 10

6-March-2000

IRAN

Irans Majlis Approves Bill For Caspian Development

The Iranian Majlis (parliament) on 29 February approved the general outline of a bill giving the National Iranian Oil Company (NIOC) permission to explore, develop and exploit oil and gas deposits in the Caspian Sea, the Iranian news agency IRNA has reported. The bill, which must undergo a second reading, authorizes NIOC to enter into contracts with foreign firms to develop offshore resources. Costs will be...