Edison withdrew from its contract to explore Iran’s Dayyer natural gas field, the State Department said, and it pledged not to engage in activity with Iran in the future that is subject to U.S. sanctions.
Edison is the sixth company, the State Department said, to withdraw its investment in Iran under the special rule provision of the Iran Sanctions Act, joining Italy’s Eni SpA, Norway’s Statoil ASA, France’s Total SA, Japan’s Inpex Corp. and Royal Dutch Shell PLC in doing so.
“These companies have recognized the risks of doing business in Iran’s energy sector given Iran’s proliferation activities, support for terror networks around the world, and other destabilizing actions,” said Nuland.
Edison signed a deal in 2008 with National Iranian Oil Co. to explore the Dayyer offshore block, an 8,600-square-kilometer (3,320-square-mile) area in the Persian Gulf.
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