Iran General NewsIran extends deadline for Japan to clarify stance on...

Iran extends deadline for Japan to clarify stance on major oil deal

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Iran Focus: Tehran, Iran, Sep. 15 – Iran extended by a fortnight the deadline for Japan to finalise a multi-billion dollar contract to develop its largest onshore oil field, the state-run news agency Fars reported on Friday. Iran Focus

Tehran, Iran, Sep. 15 – Iran extended by a fortnight the deadline for Japan to finalise a multi-billion dollar contract to develop its largest onshore oil field, the state-run news agency Fars reported on Friday.

Iranian Oil Minister Kazem Vaziri-Hamaneh said that Tokyo was being given an extra 15 days to make its final decision on whether it sought to enter a pre-set deal to develop parts of the Azadegan oil field, southern Iran.

In 2004, Japan signed a two billion-dollar contract to develop Azadegan.

The Untied States opposes the Japanese venture.

Iran ranks second in oil production among the OPEC states, accounting for some 80 percent of the country’s export revenues.

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