Iran says China’s CNPC pulls out of gas project
TEHRAN : Iran’s oil minister said Sunday that China’s CNPC has withdrawn from the development of an offshore gas field and that state-owned Petropars will take over the entire project.
The South Pars gas field was to be developed jointly by France’s Total, China National Petroleum Corporation and Petropars under a USD 4.8-billion (4.1 billion-euro) deal signed in July 2017.
The deal came after Iran reached a 2015 agreement with world powers that gave it relief from sanctions in exchange for limits on its nuclear programme, ending years of economic isolation.
