An Iranian official said Beijing has contracted Iran's Azadegan oil
fields for projects estimated at more than $6 billion. The contractor was
identified as the state-owned China National Petroleum Corp. assigned to
cooperate with the National Iranian Oil Co, Middle East Newsline reported.
"Separate contracts for developing the north and south Azadegan
oilfields have been inked with the Chinese," Iranian Deputy Oil Minister
Ahmed Qalebani said.
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"Thorough development of these two giant oil fields
requires more than $6 billion, and the possibility of procuring such an
amount by a domestic contractor does not exist."
CNPC, which signed a memorandum of understanding in 2009, was said to
have pledged to pay 90 percent of development of South Azadegan.
The Chinese contractor has also been given a 70 percent interest in the project.