ANCHORAGE BP is making good progress in investment talks with Iran and is keeping the U.S. State Department informed every step of the way to avoid angering Washington, a top company official said.
"It's a good conversation and my guess is it will mature quickly," BP's head of exploration and production Dick Olver said in an interview. "My sense is they (Iran) would like us to help them." BP, which took over U.S. oil companies Amoco and Arco in the last two years, is being careful not to fall foul of U.S. laws threatening sanctions against foreign oil investors in Iran, Olver said.
"The attitude we've taken on this is to make sure that whatever we do, we tell the State Department what we're doing. so we've been radically open, incredibly transparent," he said.
"We've been very restrained over a long period. Much more so than perhaps some other companies. And I think they (the State Department) appreciate that." BP is among a string of Western companies talking to Tehran about oil and gas investment opportunities.
Iranian Oil Minister Bijan Zangeneh said this month that BP Amoco PLC, as well as Shell, ENI, Totalfinaelf and Lasmo PLC were all interested in the multibillion dollar Bangestan onshore oil development.
(Reuter)