Thursday, July 9, 2020
Home News News: Economy China Pulls out of Iran Oil Development

China Pulls out of Iran Oil Development

The Iranian regime’s oil minister Bijan Zangeneh said Sunday that China’s state oil company pulled out of a $5 billion deal to develop part of the Gulf State’s massive offshore natural gas field; something that France’s Total SA withdrew from in 2018 over US sanctions.

The Iranian regime’s oil minister Bijan Zangeneh Regime Admits Ordering Attack on Oil Tanker
A commander in the Iranian Regime’s Revolutionary Guards Corps (IRGC) has admitted that the recent attack of two Saudi oil tankers in Bab al-Mandeb Strait by the Yemeni Houthis was…https://t.co/9rpDJgTQ8P pic.twitter.com/9PjP0Ck8Iu

— NCRI-FAC (@iran_policy) August 8, 2018

An important point in this contract was that the construction of a 20,000-ton platform with several massive compressors worth $ 2.5 billion to prevent the decline in gas production in this phase and several other phases.

The platform supposed to be ready by 2022, one year after the dramatic decrease in South Pars pressure, and a total of eight to 10 huge $ 20 billion platforms would be built for the South Pars phases.

Only France’s Total and two other western companies are able to build the platform, which is 10 times larger than the current South Pars platforms.

If the massive 20,000-ton platforms are not installed in South Pars, the gas production will fall sharply.

Qatar, which began developing Qatar’s southern part of Qatar ten years earlier than Iran, for years has been installing massive 20,000-ton platforms with the help of Western companies and has already withdrawn 3.5 times more than Iran from South Pars.

FOLLOW NCRI

70,803FansLike
34,239FollowersFollow