Foreign Correspondence

[Amaunet]

HALLIBURTON: LOSES IRAN CONTRACT DUE TO CORRUPTION CHARGES

(AGI) - Tehran, Iran, Aug 23 - US multinational Halliburton lost a 310 million dollar contract for natural gas extraction in the Iranian site of South Pars. According to Tehran authorities, Oriental Oil Kish, a subsidiary of Halliburton operating in the Middle East, won the contract last January thanks to bribes. The activities of the company in South Pars have been suspended and the contract annulled. Halliburton, once led by US Vice President Dick Chaney, is under investigation for the same contract in the US as well, on the basis of a 1996 law that punishes companies, both American and foreign, which invest more than 40 million dollars in Iran. The contract should now be passed on to the National Iranian Drilling Company, the Iranian state-owned energy company. (AGI) -
231946 AGO 05
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