Norway's Norsk Hydro said yesterday that talks with Iran on developing the Azar oilfield in the Anaran block were continuing and the parties aimed to complete them by end-June after missing an April target.
Steinum said that international political tensions around Iran had made it more difficult to plan for the development.
"Some things would be easier if Iran had a normal relationship with its neighbours and other countries - also from a practical point of view because the contractors and technologies available are more limited since they (Iran) are on a US sanctions list," Steinum said.
The US Iran Sanctions Act of 1996 calls for sanctions against any person or company making investments of $ 20 million or more in Iran in any 12-month period that enhance Iran's ability to develop its petroleum resources. But to date no sanctions have been imposed.
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