Norwegian oil and gas group StatoilHydro confirmed on Friday that it will not make any new investments in Iran, following pressure from the United States to isolate the Gulf state commercially.

Chief Executive Helge Lund said the company is in dialogue with US and European authorities about Iran, where it is the offshore operator for development phases 6-8 on the huge South Pars gas field in the Gulf.

"First and foremost, StatoilHydro will see through its contractual obligations in Iran," Lund told reporters after the group reported forecast-beating second-quarter profits. "We will deliver some projects for the national oil company in Iran."

StatoilHydro had been in talks to develop and invest in the Anaran project in the Azar oil field in Iran, talks that are now halted. "We are familiar with laws and regulations in the United States and the European Union, and will not make any new investments in Iran in today's situation," Lund said.

Similar decisions have been made by several companies in Europe and elsewhere as perceived risk to investors has grown. US sanctions are meant to put pressure on Iran to accept international demands to halt uranium enrichment, suspected by Western powers to be aimed at making nuclear weapons.

Iran says its nuclear programme is entirely peaceful. StatoilHydro is also planning to reduce its role in the South Pars gas project and transfer control to Iran's national oil company, the Financial Times reported on Friday.-Reuters