The National Iranian Oil Company (NIOC) has signed a five-billion dollar buy-back deal with Petropars Ltd. (PPL) for the development of Phase 11 of the offshore South Pars gas field. Iran dismissed France’s Total from the phase 11 of the South Pars gas field in 2009 following a decade-long delay in recovering the field’s largest gas layer and signed a $4.7-billion contract with China National Petroleum Corporation (CNPC) to help develop the phase 11 of the South Pars, replacing France’s Total SA. Now Petropars has replaced CNPC in developing phase 11.
Chinese CNPC out of phase 11 of South Pars
- Published: 52 days ago on Tuesday, 27 August 2013
- By: Iran Daily Brief
- Last Modified: August 27, 2013 @ 12:34 pm
- Filed Under: Economy
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