Iran Economy NewsStatoil eyes exit from Iran by 2012 or earlier

Statoil eyes exit from Iran by 2012 or earlier

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Reuters: Norwegian energy group Statoil said on Friday it would conclude work in Iran by 2012 at the latest and is now only providing technical assistance after finishing development of the South Pars project last year.

OSLO Oct 1 (Reuters) – Norwegian energy group Statoil said on Friday it would conclude work in Iran by 2012 at the latest and is now only providing technical assistance after finishing development of the South Pars project last year.

“Already in 2008 we said that we would not make further investments in Iran and we have been very open and transparent on this policy,” Statoil spokesman Baard Glad Pedersen said.

“We have completed South Pars 6, 7, 8 last year and since then our activities have been limited to providing technical assistance for the Iranian operator for a limited period.”

He said the assistance programme was limited to three years “but it may conclude before that”.

U.S. officials said on Thursday that four European oil companies, including Statoil, will abandon their Iranian activities voluntarily to avoid potential American sanctions.

(Reporting by Wojciech Moskwa)

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