CureZone   Log On   Join
Image Embedded Re: Iran and China sign oilfield development contract
 
turiya Views: 1,087
Published: 12 years ago
 
This is a reply to # 1,338,694

Re: Iran and China sign oilfield development contract


http://www.iranfocus.com/en/iran-general-/iran-and-china-sign-oilfield-development-contract-17003.html

Iran and China sign oilfield development contract

PDF Print E-mail
Wednesday, 14 January 2009

ImageTEHRAN (AFP) — Iran and China on Wednesday signed a 1.76 billion dollar contract for the initial development of the North Azadegan oil field in western Iran, an Iranian oil ministry official said.

The agreement between China National Petroleum Corporation (CNPC) and the National Iranian Oil Company (NIOC) foresees production from the field reaching 75,000 barrels a day in four years' time, the official said.

If that timetable is maintained, Iran may award CNPC the contract for the second phase, when production is scheduled to double.

The north Azadegan field is in Khuzestan province on the border with Iraq and has reserves of about six billion barrels of oil.

Western oil companies have refused to invest in Iran because of the controversy over its nuclear energy programme and Tehran has increasingly turned to Asian companies.

Outline agreements have been signed with several Asian companies but the deal between CNPC and NIOC is the first major oil sector contract finalised in recent years.

CNPC this month began work on developing the Al-Ahdab oil field in Iraq following the signing of a three billon dollar contract.

 

 
Printer-friendly version of this page Email this message to a friend
Alert Moderators
Report Spam or bad message  Alert Moderators on This GOOD Message

This Forum message belongs to a larger discussion thread. See the complete thread below. You can reply to this message!


 

Donate to CureZone


CureZone Newsletter is distributed in partnership with https://www.netatlantic.com


Contact Us - Advertise - Stats

Copyright 1999 - 2021  www.curezone.com

0.906 sec, (2)