NO. 1



Iran's South Pars Gas Exploration Well Nears Target Depth

Iranian Oil Minister Gholamreza Aghazadeh tells MEES that drilling on thefirst exploration well on the South Pars offshore gas structure has now reached2,800 ms. and should hit the target depth of 3,000 ms. in a few weeks time. Hesaid that he was confident that gas would be discovered, and that anannouncement would be made in the near future.

The South Pars structure is an extension in Iranian waters of...