VOL. XLII

No. 10

8-March-1999

IRAN

NIOC Affiliate Set To Begin Drawing Down South Pars Loan

An affiliate of the National Iranian Oil Company (NIOC) isscheduled to draw the first tranche of a $350mn pre-financing scheme securedfrom France痴 Credit Agricole Indosuez sometime this month. The loan is part of$900mn worth of credit facilities which are under negotiation with a group ofFrench banks (MEES, 22 February). The funds are earmarked to support anongoing project to develop phase 1 of the South...