U.S. firms interested in Iran oil contracts

Monday, February 23, 2004

Iran said it has received interest from U.S. companies to bid on new oil contracts in the Islamic republic.

Iranian officials said several unnamed U.S. companies have relayed interest to participate in the tender for 16 oil blocks. The project is being headed by the state-owned National Iranian Oil Co. and the deadline for bids is July 10, Middle East Newsline reported.

The company's director, Mohammad Mohaddes, said the U.S. companies discussed their desire to participate in the tender during a seminar in January in the Netherlands. The U.S. government and companies cannot engage with foreign firms that invest more than $20 million in Iran's energy sector.

"There is no problem on the side of Iran for the presence of American oil companies in these plans," Mohaddes said.

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