Iran not definite about giving oil projects to Chinese firms

EghtesadOnline: Oil ministry is not still definite about giving development project of Yadavaran and North Azadegan oil fields to Chinese companies, an official said.

News ID: ۷۳۵۵۷۲

06 August 2016

In an exclusive interview with IRNA on Saturday, Managing Director of National Iranian Oil Company (NIOC) Ali Kardor said the decision to give the two projects to Chinese companies is not fixed yet.

He said his company is still considering the proposed plans by Chinese companies.

He said according to the existing contracts, Chinese firms have been given priority in developing the second phases of the two oil fields, but nothing has been finalized yet about their proposed projects.

In April, Managing Director of Oil Development and Engineering Company Abdolreza Haji Hosseinnejad said that Iran has been in talks with Chinese companies for development of phases two of North Azadegan and Yadavaran oil fields.

Hosseinnejad said that in case of failure of the talks, the fields will be developed per new IPC models.

He said development of oil fields west of Karun, joint field with Iraq, are on the agenda of Iranian oil industry and to this end, the Ministry of Petroleum intends to follow up the second phases of the fields' development.

He said North Azadegan and Yadavaran fields are expected to yield 160,000 bpd oil with raising the output capacity.