Iranian Offshore Engineering and Construction Company (IOEC) submitted bids for two offshore oil blocks in India. IOEC would be competing with companies from France, Italy, South Korea and the United States for the projects which were worth $1.1 billion each1.

• 1. “Iran makes bid for two Indian oil tenders,” Tehran Times, February 22, 2008, at http://www.tehrantimes.com/index_View.asp?code=163760