Elf, ENI near deal over Iranian oil field
Article Abstract:
Elf Aquitaine SA of France and ENI SpA of Italy are set to reach a deal to develop Iran's Dorood oil field offshore Kharg island. Under the pact, Elf Aquitaine will have a 55% share in the project while ENI will own the remaining 45%. The over $500-million investment is expected to add 100,000 barrels of oil daily to Iran's oil production of almost 4 million barrels per day. The contract will include a buy-back arrangement to comply with Iran's constitution, which disallows foreign ownership of oil assets.
Comment:
Elf Aquitaine and ENI will develop Iran's Dorood oil field offshore Kharg island with an investment of $500 mil
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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BP Amoco discovers gas in Azerbaijan
Article Abstract:
BP Amoco PLC said it has made a major natural gas discovery in Azerbaijan. The country has the potential to become a key natural gas exporter to the rapidly-expanding market in Turkey. BP Amoco discovered the gas in the Shah Deniz prospect, which lies offshore in the Caspian Sea. BP Amoco estimates that the field has reserves of more than 400 billion cubic meters. A second drill is being developed in the field as more gas could still be found.
Comment:
Makes major natural gas discovery in Azerbaijan
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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Shell looks close to deal with Iran over oil fields
Article Abstract:
Royal Dutch/Shell Group is close to reaching an agreement to invest approximately $1 billion (935.2 million euros) for the development of two oil fields in Iran. Shell is engaged in talks about the development of the Nowruz and Soroush oil fields. The company would not say specifics about the investment and returns that are being discussed. Shell is believed to have made several offers for each project.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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