9 Nov, TEHRAN, The National Iranian Oil Company (NIOC) and a consortium involving France’s Total, the China National Petroleum Corporation (CNPC) and Iran’s Petropars signed a major deal Tuesday to develop the phase 11 of Iran’s South Pars Gas field.
The contract for the development of the gas field in the Persian Gulf region is worth 4.8 billion U.S. dollars.
The deal marks the return of major international companies to the energy projects of the Islamic republic following the clinch of a nuclear deal between Iran and the world powers in July last year.
The project, which is scheduled to be completed within six months, will add 56 million cubic meters to Iran’s capacity to extract gas from the field which is shared with Qatar. (Xinhua)