Deal closing in on Iranian oil field

Mon, 12 May 2003, 00:00 WIB | Source: AFP

TEHRAN: Iran will soon finalize a deal on developing its
southwestern Bangestan oil field with one of three international
oil majors, a government official told the state news agency IRNA
on Saturday.

Iran would choose between Royal Dutch Shell, British Petroleum
and TotalFinaElf to develop the lucrative oil field, said Ali-
Akbar Vahidi Al-e Aqa from the state-owned Oil Development and
Engineering Company.

Iran has been in talks over the field, which could yield up to
260,000 barrels of oil a day, since 1998, but negotiations had
been bogged down over profit-sharing and the length of the
contracts, Vahidi Al-e Aqa said. -- AFP

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