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IRAN: KOREAN COMPANY INVESTS $1.6 BILLION IN BARS GAS FIELD.(LG Engineering and Construction Co., Iranian National Oil co.)(Brief Article)(Statistical Data Included)
IPR Strategic Business Information Database, September, 2002
According to Al-Watan newspaper (September 17, 2002), the South Korean L.G. Engineering and Construction Company signed an agreement with the Iranian government. The Korean company will invest $1.6 billion to developing the 9th and 10th phases of the Bars Gas Field, based on this contract. The agreement was signed between the Iranian National Oil Company and the South Korean company under the patronage of the Iranian Minister of Oil, Mr.
Bijan Namdar Zanganeh. The construction of these phases will begin next December and will last 52 weeks.
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