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Hydro eyes Yadavaran



By Upstream staff 

Norway's Norsk Hydro said today that it is bidding to take part in the development of Iran's giant Yadavaran oilfield.

"We have put in a bid for Yadavaran," Norsk Hydro senior vice president Jorgen Kristian Andersen told Reuters on the sidelines of its third-quarter earnings presentation in Oslo.

He said the company was also seeking a licence north of its Anaran block in Iran, where it has a 75% stake.

Yadavaran, formerly known as Kushk and Hosseinieh, lies close to the Anaran block in Iran's south-west.

In July, Iran said that it had made new discoveries in several crude layers at Yadavaran that amounted to more than 3 billion barrels of recoverable crude.

Fellow Norwegian outfit Statoil has also bid for participation in Yadavaran.


Monday, 18 October, 2004, 14:54 GMT  | last updated: Thursday, 28 April, 2005, 09:39 GMT

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