CNPC replaces Total in Iran

Source:Agencies-Global Times Published: 2018/11/26 21:18:39

China's State-owned CNPC has replaced France's Total in Iran's multibillion-dollar South Pars gas project, Iranian Oil Minister Bijan Zanganeh said, according to the semi-official news agency ICANA on Sunday.

"China's CNPC has officially replaced Total in phase 11 of South Pars but it has not started work. Negotiations need to be held with CNPC... about when it will start operations," Zanganeh told ICANA, without giving further details.

Neither Total, which had a 50.1 percent stake in the project, nor CNPC could immediately be reached for comment.

Posted in: ECONOMY,COMPANIES

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