CNPC Operations in Iran

Announced on 29 July 2012, the China National Petroleum Corporation (CNPC) completely pulled out of Iran’s South Pars Field project.

According to oil publication Rigzone, in 2009 a contract worth US$5 billion was signed by Tehran and the CNPC, to develop the field. France’s Total was accused of delaying the contract, which was then awarded to the CNPC.

In November 2011, the South Pars deal was suspended due to a lack of activity by China. According to the Tehran Times, energy officials issued an ultimatum at this stage against further delays. Officials from the oil ministry reported that China also withdrew most of its workers and personnel from the southern Iranian port city of Assaluyeh, the onshore part of South Pars gas field in the Persian Gulf in late 2011.

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