Iran’s oil heritage in London; The ownership of the valuable building was lost (+images)

Following the final verdict of the British Court of Appeal, the National Iranian Oil Company building in London was valued at £ 5m in favor of the UAE Crescent Gas Corporation.

The verdict is part of Crescent’s efforts to collect $ 1.5 billion in debt from the National Iranian Oil Company (NIOC), which was due to a five -year contract signed in year 2 for the sale of natural gas to the UAE.

The NIOC House building in London, located on Victoria Street No. 1, was the former headquarters of the National Iranian Oil Company. The building was built in the 1980s and served as the headquarters of the National Oil Company in London.

The NIOC House is designed in the architectural style of the 1980s and is made of concrete, reminiscent of some of the Gothic architectural features.

The building has eight floors plus basement and is located in a sensitive position near the Westminster Church and Parliament Square, its architect Nicolas Daniel Nixon Fairbairne.

The building, originally owned by the National Iranian Oil Company and then transferred to the Petroleum Pension Fund.

Finally, the appeals court rejected the protest of the National Petroleum Company on September 9 and approved the preliminary court ruling; As such, the confiscation and restoration of the building was confirmed in favor of Crescent.