Iran set to grant two key oil deals to CNPC, Sinopec
TEHRAN -- Iran plans to grant the development of two major oil fields to CNPC and Sinopec, according to a statement by the National Iranian Oil Company (NIOC).
CNPC will be awarded the development of the second phase of the North Azadegan project, while Sinopec will be awarded the development of the second phase of the Yadavaran project. Both projects are in Iran’s southwestern province of Khouzestan.
A Chinese delegation will arrive in Tehran over the coming weeks to finalize negotiations, Gholam-Reza Manouchehri, deputy director for engineering and development affairs, NIOC, said.
Iran’s decision to award the projects to the companies was in line with Tehran’s strategy to promote economic relations with Beijing, Manouchehri added.
