CNPC starts SP phase 11 operation

October 17, 2010

TEHRAN -- China National Petroleum Corporation (CNPC) has started the executive operation of South pars gas field’s phase 11 development plan, Pars Oil and Gas Company’s Managing Director Ali Vakili said here on Saturday, the Mehr News Agency reported.

National Iranian Oil Company and CNPC signed a 5-billion-dollar contract in Beijing in 2009 for the development of phase 11 of the South Pars gas field, replacing Total.
According to the signed contract with CNPC, Total and Malaysian Petronas can return to the project and collaborate with CNPC, if they express readiness.
After signing the contract, Jashnsaz said that the deal came after much delay and waste of time by Total regarding the project.
The South Pars gas field is being developed jointly by Iran and Qatar. The Iranian share of the field is about 14 trillion cubic meters of gas, or about eight percent of the total world reserves, and more than 18 billion barrels of liquefied natural gas resources.
The Iranian part is divided into 24 phases