Eni To Hand Over Darkhovin Field To Local Operators To Avoid Sanctions

Italian major Eni will hand over operations at the Darkhovin oil field in Iran to local partners, Reuters reported on 29 April 2010. The announcement, which was made in the company's annual 20-F filing to US regulatory authorities, came as the company expressed concerns that it could be affected by new US sanctions targeting companies dealing with Iran. Coincidentally, Darkhovin is also the site for a planned nuclear reactor that Iran has stated will be operational by 2016. The context for Eni's decision is the impasse between Iran and the West over the former's nuclear ambitions.

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