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Sunday, 25 December 2016

Chinese firms face competition to maintain role in developing Iranian oilfields | Reuters

Chinese firms face competition to maintain role in developing Iranian oilfields | Reuters:
"Iran plans to ask international oil companies to bid for the second phase of development of its Yadavaran and North Azadegan oilfields, a senior official said on Saturday.

That means Chinese firms China National Petroleum Corp (CNPC) [CNPET.UL] and Sinopec (0386.HK), which have played a leading role in developing the fields until now, will have to compete with other firms if they want to maintain that position.

"CNPC would like to extend its North Azadegan contract, but we have announced that ...they should take part in the bidding for a new contract," Gholamreza Manouchehri, deputy head of the National Iranian Oil Company (NIOC), was quoted as saying by state news agency IRNA."

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