No. 49



Iran To Follow Buy-Back Model In Opening Onshore Areas To Foreign Firms

The Iranian Minister of Oil, Mr. Bijan Zanganeh, has said that Iran's plan to open itsonshore areas to foreign companies will be based on the buy-back project model. Speakingat the end of the Jakarta OPEC conference, Mr. Zanganeh explained that in both new fieldsand producing marginal fields in the onshore areas, Iran will "act in the sameway" as with the buy-back projects (see page D4)....