Gulf Oil and Gas accountACCOUNT

Chinese Firms Compete over Iran Oil Fields

Source: www.gulfoilandgas.com 12/26/2016, Location: Asia

Share |
Chinese firms which are eyeing to be granted with the development of the countryís oil fields, as they were also involved in carrying out the development of the initial phases of two major oil fields, have to compete with other giant interested companies for the future phases of the projects.

The announcement was made by the deputy for development and engineering affairs of the National Iranian Oil Company (NIOC).

Gholam-Reza Manouchehri stated that the NIOC had informed Sinopec and China National Petroleum Corporation (CNPC) that they would have to participate in tenders for further development of Yadavaran and North Azadegan oil fields.

He added that the Chinese companies had agreed with the proposal.

Based on the contracts with CNPC and Sinopec, they were to be prioritized in talks over the next phases of North Azadegan and Yadavaran.

However, it added, it appears that talks with the two have failed and they will therefore need to compete with others in tenders over the next phases of the projects.

Sinopec signed a deal with NIOC in 2007 worth $2 billion to produce 80,000 barrels per day (bpd) in Yadavaran. Later in 2009, CNPC signed a similar $2-billion deal with NIOC to produce 75,000 bpd of oil at North Azadegan.

There were criticisms against the performance of both companies in the projects.

In May 2014, Iranís Oil Minister Bijan Zanganeh made it clear that he was not satisfied with CNPCís work.

The company was later kicked out of a project to develop Phase 11 of South Pars gas field Ė a project it had been awarded simultaneously with North Azadegan.

Development News in Iran >>

Iraq >>  7/20/2017 - Mr. Jabbar Ali Hussein Al-Luiebi the minister of oil attended the celebration of launching the 3rd oil well in Basrah, and confirmed on the keenness o...
Tanzania >>  7/20/2017 - Aminex has now received a further payment from Tanzania Petroleum Development Corporation (TPDC) for Kiliwani gas sales. The Company continues to work...

United Kingdom >>  7/19/2017 - Independent Oil and Gas plc (IOG), the development and production focused Oil and Gas Company, has submitted the Field Development Plan (FDP) to the U...
Gabon >>  7/18/2017 - Pan Petroleum Gabon B.V. (a fully owned subsidiary of Panoro Energy ASA) has approved the operatorís proposed work program and budget to move forward ...

Iran >>  7/18/2017 - The National Iranian Oil Company (NIOC) signed on Monday a Memorandum of Understanding (MoU) with a consortium that includes Japanís engineering group...
Slovenia >>  7/18/2017 - The Board of Ascent Resources plc, the European focused oil & gas exploration and production company, is pleased to provide an update on progress with...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Iran Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 |

Oil & Gas Projects in Iran >>

More News

 

Oil & Gas Companies in Iran >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.