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Shell weighs options in
Iran-China oil deal
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SPECIAL TO WORLD TRIBUNE.COM
Wednesday, November 29, 2006
LONDON — Royal Dutch Shell is reviewing the prospect of
acquiring an interest in a huge Iranian oil field.
Executives said Shell has retained an option to participate in the
Yadavaran oil field, with estimated reserves of three billion barrels. The
option was acquired as part of a deal in which Shell helped draft a
Yadavaran development plan for China's Sinopec.
The Yadavaran development plan has been submitted to the state-owned
National Iranian Oil Co, Middle East Newsline reported. Executives said Iran was expected to make a
decision within a few months.
"We have supported Sinopec in a technical proposal for the appraisal and
development of the Yadavaran field which they have submitted to NIOC," a
Shell spokesman said. "We can confirm that the agreement with Sinopec
provides the option for Shell to become an equity partner with Sinopec in
this field."
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