VOL. XLVI

No 1

6-January-2003

IRAN

Farsi Exploration Block Awarded To Indian Consortium

The National Iranian Oil Company (NIOC) has awarded an exploration license for the offshore Farsi tract to an Indian consortium comprising operator ONGC Videsh (40%), Indian Oil Corporation (40%) and Oil India Ltd (20%). According to the official news agencyIRNA on 25 December, NIOC Exploration Director Mahmoud Mohaddes announced that the contract was for four years, with an option for a one-year extension, and...