Iran's oil ministry has asked the Chinese National Petroleum Co. (CNPC) to develop phase 11 of the giant South Pars gas field in a 35-month period with a warning that, otherwise, domestic or foreign contractors would replace it.
The issue was raised yesterday in a meeting between Iran's oil minister Rostam Qassemi and top managers of the Chinese company in Tehran.
In 2009, Iran signed a $4.7 billion deal with CNPC to help develop phase 11 of South Pars that was meant to replace French company TOTAL because of the latter's repeated delays.
The South Pars gas field is shared by Iran and Qatar. The Iranian share, which is divided into 24 phases, has about 14 trillion cubic meters of gas, or about 8% of the total world reserves.
Source: presstv.com
