VOL. XLII

No. 13

29-MARCH-1999

IRAN

Premier Still Interested In Balal Project Despite FinancingObstacles

MEES understands that Premier Oil has now formallyadvised the National Iranian Oil Company (NIOC) that it has a number offinancing issues to resolve before it can conclude a buy-back project coveringthe Balal oilfield. But the British firm also emphasized that it remainscommitted to the service contract in its current format. While Premier and itspartner Bow Valley Energy of Canada had been...