Norwegian energy group StatoilHydro said that it aims to put its share of Iran's South Pars gas project into operation in mid-2008.

Chief Executive Eldar Seatre said the company would produce this year about 10,000 barrels of oil equivalent per day from phases six to eight of the South Pars gas field, Reuters reported.

“We haven't committed any (further) investment in Iran,” he said on the sidelines of a presentation of the group's first-quarter results.

StatoilHydro has invested about $300 million in South Pars gas field, but has been under pressure from the US, which seeks to isolate Iran over its nuclear program.

“For us it's a delicate situation, obviously, and first we will have to look further into the opportunities and then at the context of the restrictions involved,” Seatre said.

“We have an open dialogue with the US authorities, so we know about their perspective and they know about ours”, the Chief Executive added.

PRESSTV, Iran, May 14, 2008