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Sunday, December 6 - 2009

Sinopec close to Yadavaran deal

  • Iran: Sunday, December 09 - 2007 at 13:31

Iran's Oil Minister Gholamhossein Nozari has revealed the Islamic Republic is close to announcing a multi billion dollar deal with China's Sinopec for the development of the Yadavaran oil field, reported the AFP. Iran first inked a deal with Sinopec regarding the field, which contains around 3bn barrels of crude, in 2004. The deal may well involve China buying 10m tonnes of natural gas per annum for a 25 year period.

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