Deal to develop Iranian oil field disappoints State Department
by The Associated Press
A consortium made up of Canada’s Bow Valley Energy Ltd. and Elf Petroleum Iran has agreed to develop Iran’s offshore Balal oil field. The cost of the project is estimated at $300 million, and the first oil from Balal — some 40,000 barrels a day — is expected in 2001.
The U.S. State Department said A....
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