Iran to explore disputed Caspian area

National Iranian Oil Co. has formed a consortium to conduct a seismic survey of the southern Caspian Sea. NIOC, Royal Dutch/Shell, and London independent Lasmo plc have agreed to acquire 1,000 km of 2D seismic and conduct geological and geophysical studies of the previously unexplored area. The three firms will be equal partners in the 18-month study. The announcement has reignited the long-lived dispute over Caspian boundary definitions, with Azerbaijan claiming that some of the area to be

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