VOL. XLII

No. 36

6-September-1999

IRAN

Iran痴 PEDCO Signs Exploration Deal Covering Six DisputedProspects In The Caspian Sea

In a move which will surely not go unnoticed in neighboringAzerbaijan, Iran announced last week that it had signed two explorationcontracts covering six disputed structures in the Caspian Sea. The contractswere awarded to a local firm known as the PetroIran Development Company(PEDCO), a general management company set up by the National Iranian OilCompany (NIOC) last year to...