Wednesday, January 12, 2005
Halliburton wins Iran gas contract despite sanctions
According to the Daily Star, Halliburton has won a major contract to drill for gas in Iran.
Iran said Monday that U.S. oil giant Halliburton had won a major contract to drill for gas, despite U.S. sanctions against foreign investment in the country's energy industry. "Halliburton and Oriental Kish [an Iranian company] are the final winners of the tender for drilling South Pars phases 9 and 10," Pars Oil and Gas Company managing director Akbar Torkan said, according to state television. An unidentified Pars company board member said the deal for the gas fields in the Gulf off the south coast of Iran was worth about $310 million. He said Halliburton had not directly signed the contract but that it had offered its services via Oriental Kish. Under a law introduced in 1996, the United States threatens sanctions on both American and foreign companies investing more than $40 million in Iran's petroleum industry.Well, if that's the law then I'm sure sanctions will handed down shortly. Hahahahahahhaha! Whew, that's a good one.