Middle East Economic Survey

VOL. LII

No 23

8-Jun-2009

IRAN

NIOC Signs Preliminary Agreement With CNPC For South Pars Phase 11 Development

The National Iranian Oil Company (NIOC) has signed a new agreement with Chinas CNPC for the development of Phase 11 of the South Pars gas field, IRNA reported on 3 June. The development cost was estimated at $4.7bn. South Pars Phase 11 had been earmarked for development by Total to supply gas for a planned LNG export scheme, but negotiations have been stalled for...