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Article Excerpt
Several companies have purchased tender documents, at $50,000 per pack, for Iran's first licensing round covering eight giant blocks in the Persian Gulf. The documents were collected by March 11. Proposals will have to be submitted by May 26. The bidders are led by Shell, Total, Agip, BP, Edison, OeMV, Statoil and Norsk Hydro. Each proposal will require a bid bond of $350,000.
The round, announced in late Jan. by NIOC's Exploration Directorate, involves eight blocks each averaging about 10,000 sq km. They cover most of Iranian waters between the port of Bushehr and the Strait of Hormuz: Bushehr, Iran Mehr,...
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