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Edison S.P.A

Edison S.P.A

Industry: 
Energy
Symbol: 
BIT:EDN
Country: 
Italy
Sources: 

 

"The U.S. State Department said Friday it welcomed a decision by Italian  company Edison International SpA to withdraw from Iran’s energy sector. 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. The State Department said, as a result of the company’s decision, it granted a 'special rule' under the Iran Sanctions Act to Edison that says the company will not be subject to an investigation into past Iran-based activities, so long as it lives up to the assurances it gave to the U.S. government. 'We commend the commitments made by Edison International, and we hope that other firms will follow its lead,' said State Department spokeswoman Victoria Nuland in a statement . . . 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." (Wall Street Journal, "U.S. Says Edison International Exits Iran," 7/6/12)

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"Edison SpA said it signed a contract to explore the Dayyer offshore block in Iran for hydrocarbons in a project that will cost around 30 mln eur. The contract envisages a period of exploration of four years after which, if hydrocarbons are discovered, Edison will proceed with development of the field." (Thomson Financial News Super Focus, "Edison to invest 30 mln eur in Dayyer hydrocarbon field in Iran," 1/9/08)

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"'Italian power company Edison SpA has signed an agreement for hydrocarbon exploration works in Iran for the total value of 30 mln euro ($43.9 mln),' the company said in a statement." (ANSA, "Italian Edison To Explore Iranian Oil Block For 30 Mln Euro," January 9, 2008)

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In a 2011 GAO (General Accountability Office) report, Edison SpA was listed as one of sixteen foreign firms involved in the Iranian oil, gas, or petrochemical sectors, according to open sources. (GAO report, "Firms Reported in Open Sources as Having Commercial Activity in Iran’s Oil, Gas, and Petrochemical Sectors," 8/3/2011)

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Edison has an office in Tehran. (Company website)

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