INTERNATIONAL OIL COMPANIES WILL NEVER BOYCOTT IRAN OIL, CHIEF SAYS

Mehr News Agency, Iran
Sept 18 2006

Tehran, 18 September: There is no economic sanction at sight, and
the international oil companies will cooperate with Iran under any
condition, said the managing director of National Iranian Oil Company
(NIOC) here on Monday.

Gholamhoseyn Nowzari made the remarks during a ceremony held to sign
an oil and gas exploration contract with the Norwegian Hydro Zagros
Company in Khorramabad oil block. A number of major international
oil companies including the French giant oil company Total and Eni
of Italy have announced readiness to cooperate with Iran.

Referring to the deadline set for the Japanese company INPEX at
Azadegan oilfield, Nowzari told reporters that Iran-Japan relations,
prioritizing the development of Azadegan oilfield with the Japanese
oil firm and Iran’s trust for intentional contracts, are all the
reasons that justify granting an opening to the Japanese company.

Nowzari also stated that the Master Development Plan (MDP) has been
prepared for purchasing required goods and equipments. The NIOC has
set September 30, 2006, as the not extendable deadline for the INPEX
to start operations in Azadegan oilfield; otherwise, the contract
will be considered null and void and Iran will pay some money to
INPEX for what has been already done.

As for Iran’s oil exports to Armenia, Nowzari said that Iran will
sell oil to any country who pays more for Iran’s oil.

In order to accelerate implementation of projects in the nation’s
oil and gas fields, NIOC has set a time limit for foreign companies
to accomplish the task. If the foreign company fails to take any
operation within the stipulated time limit, we will start cooperation
with other contractors.