VOL. XLII

No. 06

8-February-1999

IRAN

Iran痴 Economic Council Approves Doroud And Balal Buy-BackProjects

After several months of deliberations, Iran痴 EconomicCouncil has finally approved buy-back contracts covering two oilfielddevelopment projects in the country痴 offshore sector. Meeting on 30 January,the top-level review board gave the nod to a $1bn secondary recovery projecttargeting the Doroud field as well as a smaller $280mn venture involving thedevelopment of the Balal field. The endorsement...