OSLO, Aug 1 (Reuters) – Norwegian oil and gas group StatoilHydro confirmed on Friday it will not make any new investments in Iran, following pressure from the United States to isolate the Islamic Republic over its nuclear ambitions.
StatoilHydro, the latest in a series of foreign companies to back away from Iranian investment as perceived risk to investors has grown, said it would honour existing contracts.
Chief Executive Helge Lund said the company is in dialogue with U.S. and European authorities about the status of its activities in Iran, where it is the offshore operator for development phases 6-8 on the South Pars gas field in the Gulf.
“We are familiar with laws and regulations in the United States and the European Union, and will not make any new investments in Iran in today’s situation,” Lund said.
to continue reading article, click on this link: http://tinyurl.com/6q6t5z