has so far failed to start developing Phase 11 project in Iran.
Behbahani said that while Western companies may have better technology than CNPCI
, the Chinese were in place.
On April 29, Iranian Oil Minister Bijan Namdar Zanganeh cancelled a $2.5 billion deal with CNPCI
due to its repeated delays in the development of the oilfield.
At a meeting with Karzai in Beijing on the sidelines of the Shanghai Cooperation Organisation summit, the CNPCI
chief sought security for the oil and gas fields in the country's north.
27, 2005, CNPC said it had successfully acquired PK through its wholly-owned China National Petroleum Corp Int'l (CNPCI
PetroKazakhstan, which is headquartered in Calgary but operates solely in the central Asian country of Kazakhstan, has entered into an agreement whereby a wholly owned subsidiary of China National Petroleum Corporation International (CNPCI
) will offer $55 per share in cash for all outstanding common shares of the company.
Early in February, the oil miinster had touched upon implementation of Phase 11 project of South Pars and Total's withdrawal from the project, saying, "We signed only one important deal after the JCPOA which concerned development of Phase 11 Project of South Pars with a consortium of France's Total, China's CNPCI
and Iran's Petropars in which China had 30% stocks and had insisted to enter the contract."
Abdol-Reza Haji-Hosseinnejad, managing director of Petroleum Engineering and Development Company (PEDEC), said China National Petroleum Corporation International (CNPCI
) has signed a contract to develop the second phase of the North Azadegan oilfield that Iran shares with Iraq.
Iran Oil Minister Bijan Namdar Zanganeh says China's oil giant, CNPCI
, is facing the prospect of expropriation in a major oil field in Iran should it continue dragging feet on the development project.