VOL. XXXVII

NO. 16

17-JANUARY-1994

Iran

Iran Cancels Intent Letter for South Pars Development Contract

MEES learns that the National Iranian Oil Company (NIOC) has formallycancelled a letter of intent which it originally issued in September 1992 to aconsortium led by TPL (Technologie Progetti Lavori) and Saipem of Italy incooperation with Mitsubishi Corp. of Japan and Machinoim- port of Russia, inrespect of a $1.7bn contract for the development of the South Pars offshore gasand condensate field....