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Norsk Hydro

Norway

 

 

 

Date: 2000 – 2007

Deal: According to a company press release, Hydro signed an agreement with the National Iranian Oil Company (NIOC) for "the rights to explore the land-based block Anaran close to the border of Iraq" (Hydro Company Press Release, September 29, 2003). In 2003, according to Reuters, Hydro awarded Lukoil a 25 percent share in the project, but stopped work in 2007 because of U.S. sanctions (Reuters, October 22, 2007).

Date: September 2006

Deal: According to a company press release, Hydro signed a development and exploration deal with NIOC for a block in Khorramabad (Norsk Hydro Press Release, September 17, 2006). The contract, according to the company's press release and other sources, was reportedly worth between $50 million and $100 million (Norsk Hydro Press Release, September 17, 2006 & United Jewish Communities, July 2, 2007). Shortly after, according to The Times of London, Norsk Hydro merged with Statoil to form StatoilHydro ASA (The Times (U.K.), December 18, 2006).

U.S. Business Ties: Prior to its merger with Statoil, Norsk Hydro had received just under $4 million in U.S. government contracts between 2000 and 2006, according to USASpending.gov (USASpending.gov, accessed June 30, 2010).

Last Updated: July 17, 2014