Tag Archives: China National Petroleum Corporation (CNPC)

Natural gas consumption will rise to 620 billion cubic meters in 2030. said CNPC. up from 510 billion in last year'.s report.

Officials say the partnership of domestic companies with oil majors will gradually enhance the technical and managerial know-how of Iranian firms.

The deal for phase 11 of the field marked the first by a major global energy company signed with Iran since the easing of sanctions against Tehran in January 2016.

Total holds a 50.1 interest in the South Pars project with state-owned China National Petroleum Corporation owning 30 percent and Petropars 19.9 percent.

The agreement was signed at a ceremony in Tehran attended by Zangeneh. Total’s CEO Patrick Pouyanne and senior officials from China’s CNPC and Iran’s Petropars.

Iran needs 200 billion dollar investment to develop oil industry which should be supplied through foreign sources.

The development of Phase 11 of the South Pars project will cost up to $5 billion.

South Pars is the world'.s largest gas field. shared between Iran and Qatar.

Total will operate the SP11 project with a 50.1 percent interest. while Iranian Petropars Company and the Chinese CNPC will have a share of 19.9 and 30 percent. respectively.

Kuwait has so far bought Chinese-made rig equipment worth more than 4.3 billion yuan.