Iran, China Ink Deal on Phase 11 for South Pars Gas Project

BBC Monitoring via Comtex

A $5 billion deal on the development of South Pars gas field phase 11 was signed by Iran and China in Beijing on Wednesday, June 3.

According to the correspondent of Mehr News Agency, aiming to produce 50 million cubic meters of natural gas per day, Iran and China singed the five billion dollar contract on the development of South Pars phase 11.

Following the French company Total's nine-year delay to implement the development project, this contract was signed by the managing director of the National Iranian Oil Company Seyfollah Jashnsaz, and the managing director of China's oil company CNPC.

BBC Monitoring. Copyright BBC.