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CNOOC still keen on developing Iran's North Pars gas field

TEHRAN, Apr. 4 (Mehr News Agency) - China National Offshore Oil Corporation (CNOOC) is still in talks with Iran on joint development of the North Pars gas field in the Persian Gulf, a source close to the situation said Friday.

In February, CNOOC and Iran's Pars Oil and Gas Company were about to sign a final contract, worth about 16 billion dollars, to develop the gas field.

However, the contract signing has been delayed due to 'international sensitivity', but the two sides are still in talks on the issue.

CNOOC and the Iranian partner signed a memorandum of understanding on North Pars early last year. Under the initial agreement, CNOOC was to purchase 10 million tons of liquefied natural gas annually from Iran providing the feed for its three operational LNG units.

... Payvand News - 04/05/08 ... --

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