Gholam-Hossein Nozari, Iran’s oil minister, said that he has asked officials to finalize the deals around mid-June on three phases of the gas field South Pars.
As the companies have postponed investments due to rising costs, Iran has advised them to conclude the contracts by mid-2008 or forgo the deals.
Noghrehkar Shirazi, Iran’s deputy oil minister for international affairs, said: We still prefer these three companies to finish their jobs, but if they keep being slow their Swiss and Austrian friends may take over.
Iran’s controversial nuclear program and increased US pressure on companies to stop business with Tehran have also weakened profitable energy deals. As a result, many western companies are trying to do a balancing act. They are maintaining their presence in the country but not getting into big deals that could endanger their interests in the US.
