VOL. XLI

No. 04

26-January-1998

IRAN

Balal Oilfield Project Falters As Bow Valley's IndonesianPartner Pares Financial Commitment

Efforts by Bow Valley Energy to carry out a buy-back contract todevelop the 40,000 b/d Balal offshore oilfield suffered a setback earlier this month whenthe company's Indonesian partner, Bakrie Minarak Petroleum, notified the Canadian firmthat it would no longer be able to finance the project as planned. Bakrie's parentcompany, Bakrie Inter Investindo, has been beset...