VOL. XXXVII

NO. 49

5-SEPTEMBER-1994

Iran

Iran Awards Major Offshore Oil/Gas Development Contracts To NIOC-SponsoredFirms

Having failed to obtain international financing for the development of anumber of important oil and gas fields by foreign groups, the National IranianOil Company (NIOC) has decided to go it alone by awarding the development contracts to new local firms set up by NIOC itself. It is not yet clear to whatextent foreign firms will now be involved in these projects, either as...