Norway

Aker Solutions is listed on the March 1, 2020 and March 1, 2021 Report to the New Jersey Legislature Iran Divestment as a prohibited company. 

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"Aker Solutions reportedly has a subsidiary with business agreements in Iran, which may include the transfer of petroleum research technology to Iran. Aker Solutions had previously been removed from the CalSTRS Iran-related securities list. However, in 2016, CalSTRS reinitiated the review process due to potentially new involvement. In 2017, CalSTRS designated Aker Solutions as “Being Monitored” and maintained that status in 2019. In 2020, CalSTRS removed Aker Solutions after further review of the company’s internal controls to prevent sanction violations."

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In December 2019 CalPERs removed Aker Solutions from its Iran Divestment List after receiving confirmation that the company has no targeted business activities in Iran, and reviewing the companies' internal controls to prevent sanctions violations.

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Aker ASA is listed in the March 1, 2019, Report to the New Jersey Legislature Iran Divestment Act. 

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Aker Solutions had previously been removed from the CalSTRS Iran-related securities list. However, in 2016, CalSTRS reinitiated the review process for reportedly having a subsidiary with business agreements in Iran which may include the transfer of petroleum research technology to Iran. In 2017, CalSTRS designated Aker Solutions as “Being Monitored” and maintained that designation in 2018.

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In 2017, the U.S. states of California and Florida, listed Aker Solutions on their state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering Aker Solutions ineligible for investment and/or state contracting.

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Norway’s Aker Solutions signed a MoU to modernize the Iranian oil industry in 2016.

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"Aker has exported products produced in Asia to the oil and gas sector in Iran, and a German subsidiary - Wirth - has exported drilling equipment to Iran. A spokesman, Jannick Lindbaek, said the company has no current business in Iran due to commercial and contractual reasons, but stressed that the company doesn't feel precluded from selling products again to Iran's oil and gas sector: "We don't have a bilateral boycott of Iran. We're following all Norwegian foreign policy," he said. The company has received $6.3 million in revenue and benefits from the US government.  Their activities in Iran are currently active.  (The New York Times, "Profiting from Iran, and the US", 3/6/2010)

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“Two European concerns—Wirth, from Germany, and Seli, from Italy—sold tunnel-boring equipment to Iran for its Ghomroud water project. Wirth’s contract was concluded after Germany’s export-control agency, BAFA, determined that the machines involved in this project, being intended only for civilian use, were not subject to embargo.

Overseeing the tunnel project, however, was Sahel Consulting Engineers, a company owned by the IRGC. Nor is this connection a secret. The website of Wirth’s subsidiary in Iran features images of the Ghomroud construction site. The sign welcoming visitors to the project bears the logo of the IRGC, and the same logo is visible above the tunnel entrance…

Once the digging is finished, though, the equipment belongs to the subsidiary businesses of the IRGC, which can do with them what they wish. Intelligence photographs have regularly indicated that much of Iran’s clandestine nuclear program is being built deep underground, in bunkers accessible by means of tunnels. The machinery and technology for constructing such tunnels can only have been provided by Wirth and Seli.” ("The Iranian Shell Game,"  July-August 2008)

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“Wirth and Seli – German and Italian companies producing sophisticated tunnel-boring machinery – have supplied their machines and technical assistance to IRGC companies, for instance. Their business was not subject to any restrictions or embargoes, yet intelligence reports have repeatedly suggested that much of Iran’s clandestine nuclear program is being built deep underground, in bunkers that are accessible through tunnels – tunnels which only such technology could build.” (Transatlantic Institute,  "Iran's Deceptive Ways,"  May 2008) 

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“German producer of tunnel boring machinery – proudly boasts on its website that ‘… a new water supply system is created in the Iranian mountains of Isfahan, Wirth machines are used.’ Indeed they are. The problem is that one of Wirth’s project clients in Iran is Sahel Consulting Engineers – a company owned by the Iranian Revolutionary Guard Corps (IRGC). Wirth has so far declined to comment on the matter.” (BESA Center for Strategic Studies, “ Iran's Deceptive Commercial Practices ,” 4/15/08)

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“The project management contract for South Pars phases 9 and 10 offshore Iran, was awarded Aker Kvaerner from Pars Oil and Gas Company in April. This contract, worth approximately USD 25 million, represents a breakthrough in Iran, which holds the world’s second largest oil and gas reserves.” (Aker Kvaerner O&G Group AS,  Board of Directors Memo , January-June 2005)

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“Aker Kvaerner will assist the national operator Pars Oil and Gas Company (POGC) in managing the USD 1.8 billion total contract (EPC) for the development project comprising phases 9 and 10 of the South Pars gas field located offshore Iran in the Persian Gulf. Aker Kvaerner has partnered up with the Teheran based, private engineering company Hirbodan for the contract

Aker Kvaerner has a history as a product and technology supplier in Iran, providing processing equipment, drilling equipment and wellheads. The new project management contract represents the first field development engagement for Aker Kvaerner in Iran. ‘This is a good project for Aker Kvaerner. Our track record on executing large projects and the teaming up with a competitive Iranian partner were important winning factors for the contract’, says Aker Kvaerner's Executive Vice President Mr. Simen Lieungh.” (EuroInvestor.com, “ Breakthrough Contract in Iran: South Pars phases 9 & 10 ,” 4/27/05)

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“Be it…a water-supply system in Iran – as an employee of Aker Wirth, you will be there as progressive technology is created and put to use in the field. And the fields of activity open to you at Aker Wirth are as diverse as our technologies and work sites.” ( Aker-Wirth website )

According to its Annual Report filed with the SEC for fiscal year 2019: "Equinor is providing the following disclosure pursuant to Section 13(r) of the Exchange Act. Equinor is a party to agreements with the National Iranian Oil Company (NIOC), namely, a Development Service Contract for South Pars Gas Phases 6, 7 & 8 (offshore part), an Exploration Service Contract for the Anaran Block and an Exploration Service Contract for the Khorramabad Block, which are located in Iran. Equinor’s operational obligations under these agreements have terminated and the licences have been abandoned. The cost recovery programme for these contracts was completed in 2012, except for the recovery of tax and obligations to the Social Security Organization (SSO).

From 2013 to November 2018, after closing Equinor’s office in Iran, Equinor’s activity was focused on a final settlement with the Iranian tax and SSO authorities relating to the above-mentioned agreements.

In a letter from the US State Department of 1 November 2010, Equinor was informed that [it] was not considered to be a company of concern based on its previous Iran-related activities.

Equinor has an intention to settle historic obligations in Iran while remaining compliant with applicable sanctions and trade restrictions against Iran. Since November 2018 Equinor has not conducted any activity in Iran, nor has it been able to resolve tax claims from the Iranian authorities. No payments were made to Iranian authorities during 2019."

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According to its Annual report filed with the SEC for fiscal year 2018: "Since 2013, after closing Equinor’s office in Iran, Equinor's activity was focused on a final settlement with the Iranian tax and SSO authorities relating to the above-mentioned agreements.

During 2018 Equinor paid the equivalent of USD 20,000 in tax to Iranian authorities. Also, during 2018 Equinor paid the equivalent of USD 50 in stamp duty to Iran Tax Organization. All payments were made in local currency (Iranian Rials). The funds utilised for these purposes were held by Equinor in EN Bank (Iran). Additionally, NIOC, on behalf of Equinor, in 2018 paid a tax obligation of USD 0.53 million equivalent in Iranian Rial to the local tax authorities and a social security obligation of USD 2.61 million equivalent in Iranian Rial to the social security authorities. The amount was settled towards historical recoverable costs from NIOC to Equinor.

Equinor has provided information about its Iran related activity to the US State Department as well as to the Norwegian Ministry of Foreign Affairs.

In a letter from the US State Department of 1 November 2010, Equinor was informed that the company was not considered to be a company of concern based on its previous Iran-related activities.

Equinor earned no net profit from the aforementioned 2018 activities."

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"Statoil is a party to agreements with the National Iranian Oil Company (NIOC), namely, a Development Service Contract for South Pars Gas Phases 6, 7 & 8 (offshore part), an Exploration Service Contract for the Anaran Block and an Exploration Service Contract for the Khorramabad Block, which are located in Iran. Statoil's operational obligations under these agreements have terminated and the licences have been abandoned. The cost recovery programme for these contracts was completed in 2012, except for the recovery of tax and obligations to the Social Security Organisation (SSO). Since 2013, after closing Statoil’s office in Iran, Statoil's activity was focused on a final settlement with the Iranian tax and SSO authorities relating to the above-mentioned agreements." (2018 SEC Disclosure).

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"Speaking to reporters ahead of a meeting of the Organization of the Petroleum Exporting Countries, Iran's oil minister, Bijan Zanganeh, said, 'We have no limitations for U.S. companies.' Asked who he would like to see return or enter Iran, he named European giants Total SA, Royal Dutch Shell PLC, Eni SpA, Statoil ASA and BP PLC…'I am talking to some of them,' he said, without saying which." (Wall Street Journal, "Iran Wants U.S. Companies to Develop Oil Fields," 12/4/13)

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"Economic sanctions on Iran have been getting tougher in recent years, and the United States tightened the screws a little more last summer with the Iran Threat Reduction and Syria Human Rights Act. One unusual aspect of that law is that it started requiring companies traded on US stock exchanges to disclose more about the business they're doing with Iran, and the Securities and Exchange Commission created the clunkily named IRANNOTICE filing to help them do it. Companies were already beginning to disclose more about their ties to Iran, Syria, Cuba and other countries non grata (at least in US eyes) under pressure from the SEC. Now they must be systematic about it-and disclose gross revenue and net profits wherever possible. Quartz's partial tally: more than $540 million in gross revenue and $15.5 million in profits for US-listed companies from their business with Iran in 2012-and that's just from 30 or so large companies that have made the disclosures since mid-February... Companies based outside the US accounted for 99% of the revenue and three-quarters of the profit. (They made the disclosures because they list shares or American Depository Receipts on US markets.) In fact, a big chunk of the total came from one company: $414 million in revenue for Statoil ASA, the Norwegian oil and gas company, from Statoil's contracts with the National Iranian Oil Co. Statoil also said it has terminated its agreements with Iran, abandoned it licenses there, and 'will not make any investments in Iran under present circumstances.' That's a common refrain in the disclosures we saw: Many, though not all, of the disclosed transactions reflected companies wrapping up old business en route to cutting most or all ties with the Islamic republic. Typically, the transactions hadn't been prohibited before the new rules kicked in." (Quartz, "US-listed companies doing business in Iran: $540 million in revenue and counting," 3/28/13)

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"After South Korea,  Norwegian energy giant Statoil was the main buyer of Iranian LPG, industry sources said. Company spokesman Morten Eek said Statoil had taken Iranian LPG as repayment of debts owed by the National Iranian Oil Company (NIOC) for completed projects on the giant South Pars gas field and exploration on the Anaran and Khoramabad fields. 'We receive the cargo at the LPG terminals in Iran and transport it by ship to markets outside Europe and the USA. Cargoes of LPG serve as down payment of NIOC's debt to us,' he said. 'We have informed the Norwegian and United States authorities on this and we will continue the dialogue to ensure that our activities are in accordance with the current sanctions,' Eek added, without commenting on whether Statoil would be able to continue taking the shipments." (Reuters, "EU sanctions strangle Iranian LPG exports to Asia," 10/31/2012)

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"Naftiran owns a 10 percent stake in the Shah Deniz project in Azerbaijan which is co-led by BP and Norway's Statoil and which is estimated to contain 1.2 trillion cubic meters of gas. The senior EU official said sanctions were structured to protect the Azeri project from financial impact." (Reuters, "EU sanctions target Iran oil, gas, tanker companies," 10/16/2012)

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"Foreign firms dealing with Iran's oil and gas sector admit that severe Western sanctions are taking their toll on business, despite Tehran talking up its ambitions at the opening of an international industry exhibition this week. The International Oil, Gas, Refining and Petrochemical Exhibition, held in northern Tehran, was three-quarters filled by Iranian companies working at every level of the industry, from the biggest to ones involved in peripheral activities such as instruments, quality inspections and oil barrel manufacturing. There were 315 foreign stands, down from the 496 present at last year's trade show. Some of the biggest foreign companies that had been major partners in the industry, such as the Anglo-Dutch group Shell and Italy's ENI, were not present. Others, such as the China Petroleum Technology and Development Corporation, the French-Iranian joint venture Beh Total and Norway's Statoil, did have stands -- but representatives there told AFP they had been instructed by their bosses to give no comments at all to journalists." (Agence France-Presse, "Foreign firms say times tough in Iran's energy sector," 4/18/12) 

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"This year, 166 Chinese companies are present at the fair compared to 100 companies last year,' a senior oil ministry official said. 'The number of foreign companies are up 35 percent,' to 496 out of the total 1,550, he said. He said that despite UN sanctions and bilateral punitive measures by the United States and the European Union against Iran, 'Germany is present with 64 companies, Italy with 36, Britain with 37, Spain with 14, France with 15 and South Korea with 33 companies.' Major Western energy groups such as Total of France, Norwegian Statoil and OMV of Austria, who have withdrawn from Iran, made a 'symbolic' appearance at the fair." (AFP, "Chinese Firms Dominate Iran Oil Exhibition," 4/15/11)

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On September 30th, Statoil made a "pledge to stop investing in Iran's energy sector" as a result of pressure from American sanctions (AP, "US hits Iranian energy firm with sanctions," 9/30/2010). However, Statoil continues to provide technical assistance on Iran's South Pars gas field, saying that such assistance will continue for "three years" (Reuters, "Oil majors tell US still have some Iran dealings," 9/30/2010). 

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"Statoil maintains an office in Iran. A spokesperson for the company said it continues to provide assistance to the National Iranian Oil Company on a gas drilling platform in the Persian Gulf. But, the spokesperson said, Statoil stopped all new exploration and drilling in Iran as of 2007, adding that the company has no plans to move forward on a license it has to drill in another area of the Persian Gulf."

From 2000-2009, the company was the recipient of 1.4 million acres of US gas/oil fields.  Their investments in Iran are currently active but with no further plans for new investments.  (The New York Times, "Profiting from Iran, and the US," 3/6/2010)

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"StatoilHydro (STL.OL) said on Tuesday it is considering pulling the families of its foreign workers out of Iran due to security concerns after Friday's presidential elections. StatoilHydro, which is part of the South Pars gas project, has 120 workers in Iran. About half are foreigners." (Reuters, "Statoil says may pull ex-pats' families from Iran," 6/16/09)

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"StatoilHydro is offshore development operator for phases 6, 7 & 8 of the South Pars gas and condensate field in the Iranian sector of the Persian Gulf. We have also engaged in onshore exploration and drilling activities. Exploration drilling on the Anaran field resulted in promising commercial discoveries in recent years. Work on this project is currently suspended. On Khorram-Abad, we have a commitment to conduct a seismic survey and to drill exploration wells." (Company Website, 7/13/09)

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"The enormous New York State Common Retirement Fund plans to divest $86.2 million in investments from nine companies doing business in Sudan and Iran...The decision comes after two years of reviewing these companies, the potential risk of the investments and, in some cases, humanitarian efforts in these countries. 'We don't expect our investments to benefit regimes that support genocide and terrorism,' said DiNapoli. The fund plans to divest out of $86 million in Gazprom (OGZPY), Inpex (1605.TO), Lukoil (LUKOY), Oil And Natural Gas Corp (500312.BY), OMV (OMVKY), Petroleo Brasilia (PBR), Statoil (STO), Wartsila OYJ and Sinopec Corp. DiNapoli said the firms were chosen because "they failed to respond or we were not satisfied with their responses" when asked to provide information to the fund on the investments and their risks." (Wall Street Journal, "NY Comptroller To Divest $86.2M In State Pension Fund Investments," 6/30/09)

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"U.S. outreach to foreign banks and to oil companies considering investing in Iran's energy sector has reportedly convinced more than 80 banks and several major potential oil-field investors to cease all or some of their business with Iran. Among them: Germany's two largest banks (Deutsche Bank and Commerzbank), London-based HSBC, Credit Suisse, Norwegian energy company StatoilHydro, and Royal Dutch Shell." (The Wall Street Journal, "How To Put The Squeeze On Iran," 11/13/08)

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"The U.S. State Department will review Norwegian oil and gas giant Statoil Hydros role in helping to develop Iranian natural gas to see if it violates a U.S. sanctions law against Tehran, a senior U.S. official told Congress on Wednesday. (Reuters, "US to review if Statoil violates Iran sanctions law," 7/9/08)

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"Three phases of the South Pars development handled by StatoilHydro ASA are now scheduled to reach full production mid-2009, two years behind schedule." (The Wall Street Journal, "Oil Majors Say US Restrictions Delay Iran Projects," 6/12/08)

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Listed by U.S. Government as doing business in Iran. (U.S. Securities and Exchange Commission, List of Companies Doing Business With State Sponsors Of Terror, Removed from the internet in July of 2007) "GIANTS WITH A FOOT IN TEHRAN: Total, Shell, Statoil, BNP Paribas, Commerzbank, MTN, UPS, Linde, Technip, Nokia, Ericsson, Peugeot, Renault, OMV, Societe Generale, ENI, Mitsubishi, Sumitomo, Siemens, LG, Samsung, Bosch, Valeo, Nestle, Unilever, BAT, Japan Tobacco." (The London Times, "American pressure threatens UK firms," 5/27/06)

"Norway's Norsk Hydro ASA in September won a $107 million exploration-and-development contract for the Khorramabad oil block in Iran. Under the deal, Norsk Hydro will drill a minimum of three wells and acquire hundreds of kilometers of seismic data on the site within four years. And the Norwegian group is now trying to deepen its investment in the Azar oil field, part of the 3,500-square-kilometer Anaran block." (The Wall Street Journal, "U.S. Sanction Threats Make Little Headway," July 12, 2007)

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Listed by U.S. Government as doing business in Iran. (U.S. Securities and Exchange Commission, List of Companies Doing Business With State Sponsors Of Terror, Removed from the internet in July of 2007)