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Selected bidders for South Pars Phases 17 & 18

In a bid-opening meeting held on Monday March 7 th 2005 with the presence of the participants in the tender for the development of Phases 17 & 18 of South Pars, Pars Oil & Gas Company (POGC) examined the commercial proposals received for the project.

The consortium consisting of Iran 's OIEC, IOEC and a foreign firm (as yet unknown) had put forth the lowest bid.

The second best bid was proposed by the consortium of Iran's PetroPars & IDRO ,Japan's Chiyoda and the Korean Daelim , followed by the consortium consisting of Iran's ISOICO , Korea's Hyundai and LG and the British Foster Wheeler.

The Proposals are to be evaluated accurately by POGC and the final and official result is to be announced before (Iranian) year end (20 th March)