VOL. XLI
No. 17
27-April-1998
IRAN
$90Mn German Loan For Iranian Oilfield Development Is Cancelled
A $90mn loan from a consortium of German banks led by West LB to the Iranian OffshoreEngineering Construction Company (IOEC) has been cancelled, according to the Vice Chairmanof West LB's Managing Board, Mr. Hans-Henning Offen. The loan relates to the developmentof Iran's offshore Soroush oilfield, for which IOEC was awarded the contract last year.IOEC is owned 51% by the National Iranian Oil...
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