IRAN

 

CNPC’s South Pars Phase 11 Project Frozen

The National Iranian Oil Company (NIOC) has frozen China National Petroleum Corporation’s (CNPC’s) $4.7bn contract to develop South Pars Phase 11. In June 2011 it warned CNPC it would cancel the project if it does not fulfill the terms of the 2009 agreement, which stated it will start the project within the first half of 2011 (MEES, 27 June 2011). CNPC replaced Total as the developer of South Pars Phase 11, but has...