Word: qum
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...negotiating in Morocco. The climax of Mattel's Middle East drive came last September, when, in return for a promise of 75% of profits,* the Iranian government gave him a 12,000-sq.-mi. exploratory concession, more than half of which lies just south of the highly productive Qum fields...
...RICH IRAN plans to build a 620-mile pipeline to carry between 140,000 and 190,000 bbl. a day from its rich Qum field (TIME, May 6) to Turkey's Mediterranean port of Iskenderun. Idea appeals to Western oilmen because new line would avoid Redlining Syria. But Iran must raise $500 million for the job, and may hold back if Western nations work out plan to build their own line around Syria...
...Eastern governments give foreign prospectors. To Italy's state-run ENI and its ambitious boss. Enrico Mattei, Iran granted twelve-year drilling concessions for a strip on the Gulf of Oman, a submerged area off Abadan, and a promising 6,800-sq.-mi. area south of the fabulous Qum find (TIME, May 6). But to Iran ENI gave up to 75% of the profits from any oil find it may make...
...reserve for future exploitation. It will allow foreign companies either to share the costs of exploration and development with the state-owned National Iranian Oil Co., or go it alone; in either case NIOC will take at least half the profits. Among the areas opened up: the fabulous Qum oilfield in central Iran (TIME...
...While Iran was publicly demanding a 75-25 split with any company that wants to develop Qum, there were strong reports in Teheran that the Shah was well aware that major oil companies, with the capital and marketing facilities needed to sell Qum's oil, will hardly agree to such a split. To do so might well force a revision of royalties in the Middle East and other areas. Under the circumstances, oilmen expect that Iran will soon consider-and pass-a new law that will offer oil companies some tempting inducements to develop Qum and other Iranian areas...