China may replace India in Iran

China may replace India in Iran

Tehran, May 28, IRNA – Iranian Petroleum Minister Bijan Zangeneh said that Indian firms have not so far taken any action as regard developing Farzad-B oilfield, adding that Iran tends to hold final talks with them.

If Indian companies express their readiness, they will be the priority of Iranian Petroleum Ministry, Zangeneh said.

Elaborating on the latest conditions of finalizing phase 11th of South Pars, he said negotiations are underway with Chinese firms for doing this project.

Referring to the fact that Iranian companies cannot finalize the 11th phase of South Pars, Zangeneh said the consortium leader is the Chinese company and 80% share of the project.

He also guessed that US sanctions against Iran have been the reason behind Chinese companies delay for starting cooperation with Iran.

The Farzad B gas field is an Iranian natural gas field that was discovered in 2012. It began production in 2013 and produces natural gas and condensates.