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GAO-10-639R 1 (2010-05-04)

handle is hein.gao/gaobaanso0001 and id is 1 raw text is: &GA ~GA 0 , Acount bilty Integr3ty * Reliabiity United States Government Accountability Office Washington, DC 20548 May 4, 2010 The Honorable Joseph I. Lieberman Chairman The Honorable Susan Collins Ranking Member Committee on Homeland Security and Governmental Affairs United States Senate The Honorable Jon Kyl Ranking Member Subcommittee on Terrorism and Homeland Security Committee on the Judiciary United States Senate Subject: Firms Reported to Have Commercial Activity in the Iranian Energy Sector and U.S. Government Contracts On March 23, 2010, we issued a report entitled Firms Reported in Open Sources as Having Commercial Activity in Iran's Oil, Gas, and Petrochemical Sectors.' Based on open sources, we identified 41 foreign firms as having commercial activity in these vital sectors of Iran's economy from 2005 to 2009.2 As you requested, this report identifies which of the 41 firms in our March 2010 report had contracts with the United States government from fiscal years 2005 to 2009. Our March 2010 report and this report are intended to support congressional consideration of U.S. sanctions against Iran, including proposed legislation to expand the Iran Sanctions Act (ISA). We did not use ISA criteria or monetary thresholds when identifying firms and did not attempt to determine whether firms meet the legal criteria for an investment specified in ISA.3 Under the existing Iran Sanctions Act, persons, including firms, that invest more than $20 million in Iran's energy sector in any 12-month 'GAO, Firms Reported in Open Sources as Having Commercial Activity in Iran's Oil, Gas, and Petrochemical Sectors, GAO-10-515R (Washington, D.C.: Mar 23, 2010). 2Iran's energy industry is vital to its economy and government. However, Iran has not reached peak crude oil production levels since 1978, does not produce sufficient natural gas for domestic use, and lacks the refining capacity to meet domestic demand for gasoline, according to the Department of Energy (DOE) and IHS Global Insight. Accordingly, Iran is seeking the participation of foreign firms in providing financing and technical assistance in numerous oil, gas, and petrochemical projects, according to DOE. 3The Secretary of State is responsible for making such determinations. Our complete methodology for identifying the 41 firms is described in GAO-10-515R. GAO-10-639R Iran Energy Sector Page I

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