CNPC International has pulled out of a contract to develop South Pars Phase 11 in the Persian Gulf, according to news service Shana.
Offshore staff
TEHRAN, Iran – CNPC International has pulled out of a contract to develop South Pars Phase 11 in the Persian Gulf, according to news service Shana.
Iranian Minister of Petroleum Bijan Zangeneh said Petropars Co. will develop the project alone.
In July 2017, National Iranian Oil Co. signed a contract with a consortium of Total, CNPC International, and Petropars to develop the offshore project.
Following the US’s withdrawal from the Iran nuclear deal in May 2018 and imposition of new sanctions and restrictions for foreign companies working in Iran, Total pulled out of the contract.
