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International oil majors bidding for development of oil field in Iran

Tehran, Sept 26, IRNA -- Leading international oil firms such as Royal Dutch Shell, Total, Statoil, North Hydro and Repsol have applied for development of Iran's Yadavaran oil field.

Acting Managing Director of National Iranian Oil Company (NIOC) Seyed Mehdi Hosseini said here on Sunday that the deadline for delivery of documents by the bidders expired on September 22 and five consortia comprising major oil companies, had offered their proposals within the said period.

Hosseini said the offers will be studied and the envelopes delivered by the bidders would be opened after necessary technical investigation.

He said the NIOC is in negotiations with three separate groups from India, China and Spain for their purchase and marketing of LNG in exchange for a share in Yadavaran development project.

In case necessary agreement is reached on the deals each company would have a 20 percent stake in the project and due agreement will be signed after a tender is held.

He said the companies will not be involved in the executive operations related to the projects, but would have a 20 percent share in investment, expenditures, cost and interests of the contracts in exchange for for annual purchase of five million tons of LNG.

... Payvand News - 9//26/04 ... --

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