Companies / Iran
Iran Sets Japan Final Deadline For Azadegan Development
September 2006 | Contract NewsIranian Oil Minister Kazem Vaziri Hamaneh has set September 29 as the final deadline for Japan's Inpex Holdings to decide on the development of the onshore Azadegan oil field or to relinquish the project to a domestic contractor. Japan's freedom of choice will be constrained both by its need to secure oil supplies from Iran, from which it currently imports about 15% of its total oil consumption, and its unwillingness to antagonise the US government. The decision Japan makes is likely to have an impact on other international oil companies (IOCs) operating in Iran.
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