Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Related News
CNPC replaces Total in Iran deal
By Zahra Hosseinian |
June 4, 2009, Thursday
|
Print Edition
Print Edition
IRAN yesterday signed a contract with China National Petroleum Corp for the development of phase 11 of the South Pars gas field in the Gulf, replacing France's Total, Iran's IRNA news agency reported.
The deal is estimated to be worth US$4.7 billion, a senior Iranian oil official was quoted as saying.
Seifollah Jashnsaz, managing director of the National Iranian Oil Co, was also quoted by IRNA as saying that Total could continue negotiations on involvement in the field's downstream sector.
The contract was signed in Beijing by an Iranian delegation headed by Jashnsaz, according to IRNA.
South Pars, the world's largest gas reservoir, is shared by Iran and Qatar. The Iranian part is divided into 24 phases.
Total has a memorandum of understanding with National Iranian Oil to develop phase 11 of South Pars but the project has been overshadowed by haggling over contract terms.
In March, Jashnsaz said Total had wasted time on the phase and a new partner would enter the project.
In April, Total's Chief Executive Christophe de Margerie said it saw the investment terms offered by Iran for developing gas fields as "not attractive enough."
Earlier this year, the Paris-based company said it did not expect to sign an agreement on South Pars anytime soon.
Iran, the world's fifth-largest oil exporter, on Sunday said it planned to issue US$12.3 billion of foreign currency and rial-denominated bonds over the next three years to help finance the development of South Pars. Investment for remaining projects at the fields would be about US$50 billion.
On Tuesday, a senior executive of Norway's StatoilHydro said it should complete a South Pars project this year.
The deal is estimated to be worth US$4.7 billion, a senior Iranian oil official was quoted as saying.
Seifollah Jashnsaz, managing director of the National Iranian Oil Co, was also quoted by IRNA as saying that Total could continue negotiations on involvement in the field's downstream sector.
The contract was signed in Beijing by an Iranian delegation headed by Jashnsaz, according to IRNA.
South Pars, the world's largest gas reservoir, is shared by Iran and Qatar. The Iranian part is divided into 24 phases.
Total has a memorandum of understanding with National Iranian Oil to develop phase 11 of South Pars but the project has been overshadowed by haggling over contract terms.
In March, Jashnsaz said Total had wasted time on the phase and a new partner would enter the project.
In April, Total's Chief Executive Christophe de Margerie said it saw the investment terms offered by Iran for developing gas fields as "not attractive enough."
Earlier this year, the Paris-based company said it did not expect to sign an agreement on South Pars anytime soon.
Iran, the world's fifth-largest oil exporter, on Sunday said it planned to issue US$12.3 billion of foreign currency and rial-denominated bonds over the next three years to help finance the development of South Pars. Investment for remaining projects at the fields would be about US$50 billion.
On Tuesday, a senior executive of Norway's StatoilHydro said it should complete a South Pars project this year.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
