Middle East Economic Survey

VOL. LII

No 3

19-Jan-2009

IRAN

CNPC And NIOC Sign $1.76Bn Agreement For North Azadegan Development

Chinas CNPC and the National Iranian Oil Company (NIOC) signed an agreement on 14 January for the first phase of development of Irans North Azadegan oil field. The 25-year agreement calls for the installation of production facilities with capacity of 75,000 b/d of oil by CNPC. The first phase development is expected to cost $1.76bn and is scheduled to be completed within...