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Gold/Mining/Energy : Lundin Petroleum LUPE Sweden

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To: Tomas who wrote (549)	6/18/2004 9:39:21 AM
From: Tomas	Read Replies (1) of 646

Iran: Getting down to business Upstream, June 18 By Vahe Petrossian Iran is regaining its position as a major energy and political player in the Middle East after a quarter-century of upheavals that saw a revolution at home, wars in the region and growing threats to the Western-sponsored status quo in the Persian Gulf. Oil strategists in Tehran (above) are hoping to consolidate the country's position as Opec's second biggest crude producer while having to reconcile a massive investment programme to exploit long-ignored gas resources second only to those of Russia. The challenges of the next decade will tax management capabilities at the Oil Ministry and the National Iranian Oil Company. Also facing a painful challenge are the inhabitants of a once-neglected strip of the Persian Gulf coast, which has been designated as the site of massive industrial development centred on gas supplies from the huge South Pars field. An important factor in Iran's energy plans for the next decade is its relationship with the West and in particular the US. A policy of opening up to the world has had patchy success but could produce significant results as early as next year.

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