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34

Halliburton Leaves Iran

US oilfield services company Halliburton said that its subsidiary that does business in Iran had completed all its commitments and was no longer working in the country

US oilfield services company Halliburton said that its subsidiary that does business in Iran had completed all its commitments and was leaving the country.

In January 2005, the company said that it would not accept new work in Iran but that it would complete existing contracts there.

The Department of Justice subpoenaed documents from Halliburton in July 2004 for an investigation into the legality of contracts its Halliburton Products & Services Ltd. unit, which is registered in the Cayman Islands, held for work with the mullah-run Iranian Oil Company.

Halliburton has said that its operations in Iran, handled through a Dubai office, were legal because they were isolated from American operations and management. Halliburton's prior business in Iran was clearly permissible under applicable laws and regulations, the company reiterated in the statement yesterday.