|
|
Article: Iran Speeds Up Entry Of Foreign Firms.(petroleum industry information)(Brief Article)
- Article from:
- Petroleum Intelligence Weekly
- Article date:
- July 9, 2001
CopyrightCOPYRIGHT 2001 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
After a long pre-election lull, Iran's oil and gas sector has switched into overdrive, with Italy's ENI signing a long-awaited contract to develop the onshore Darkhovin field and several other foreign upstream deals due to be concluded over the next two months. This burst of activity confirms Iran as one of the hottest oil plays around, at a time, ironically, when US sanctions discouraging investment there look certain to be renewed (PIW Jun. 25,p7). ENI's $1 billion Darkhovin contract is the first major upstream deal signed since Iran made performance-related changes to its buyback formula in mid-2000. ENI, which is operator for the development phase, has 60% of the ...