CNPC and Sinopec will be involved in development of two large Iranian fields

Almaty. May 17. Silkroadnews – Chinese companies Sinopec and China National Petroleum Corporation (CNPC) will be involved in the second stage of development of the Iranian oil field North Ozodagon and Edovaron, the Iranian oil minister Bijan Zanganeh said, IrTAG reports.

The minister said Iran considers China as a strategic partner in the oil, gas and petrochemical sectors.
“Iran is ready to hold the multilateral negotiations with the Chinese companies within the country’s concept adopted,” he emphasized.

The fields development plan has been approved by the Chinese companies under the original contract with Iran. Both sides have also agreed on the sale of oil and gas condensate, B. Zanganeh added.

“Despite China has already started to import more than 600 thousand barrels of oil from Iran, the volume may be increased due to the projects the Chinese companies are working on,” minister noted.

B. Zanganeh also said the Iranian authorities have signed with Chinese companies €1.5-million contract to develop Obodon refinery plant.

“The contract has recently entered into force, the remaining part shall be financed by the Chinese side,” he added.