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Halliburton winds up Iran work
AFP
Monday April 9, 2007
US oil services giant Halliburton said Monday it had wrapped up
its work commitments in Iran and was no longer conducting any projects
in the Islamic republic.
Halliburton announced in January of 2005 that it was shutting-down
its Iran operations, but would honor existing "contractual
commitments" until they were fulfilled.
"Halliburton announced today that all of its contractual commitments
in Iran have been completed and the company is no longer working
in Iran," the firm said in a brief statement.
The company, headed by Dick Cheney from 1995 to 2000 before he
became vice president, added that its "prior business"
in Iran was "clearly permissible under applicable laws and
regulations."
Halliburton, which could not be reached for further comment, was
involved in at least one contract to drill for gas in Iran in 2005
although the contract was subsequently cancelled by Iran's government.
It had won the contract even though a US law, dating to 1996, threatens
sanctions on US and foreign groups that invest over 40 million dollars
in Iran's energy sector.
Halliburton might be pulling out of Iran, which has troubled political
relations with the United States, but it is boosting its footprint
elsewhere in the region.
Halliburton announced last month that it was relocating to the
United Arab Emirates to capitalize on the Gulf region's booming
energy market.
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