Middle East Economic Survey

VOL. LIII

No 28

12-Jul-2010

IRAN

NIOC Annuls Contract With Koreas GS

The National Oil Company (NIOC) has annulled a $1.2bn gas field development contract with a Korean firm, Mehr News Agency reported on 2 July. GS Engineering & Construction was said not to have carried out its duties under an agreement signed in October 2009 with NIOC subsidiary Pars Oil and Gas Company (POGC). This was for the installation of a processing plant to remove sulfur from gas to be...