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CNPC to start drilling in Iran's gas project in March

10 February 2010 [17:00] - TODAY.AZ
China National Petroleum Corporation (CNPC) plans to begin drilling in phase 11 of Iran's South Pars gas project in March to evaluate reserves, an official says.
In June Iran signed a $4.7 billion deal with CNPC for the development of the mega-project after France's Total failed to meet a deadline set by Tehran to re-evaluate negotiations for the venture.

"The real work will start soon after the Chinese New Year holiday," said the official familiar with CNPC's international operations said on Wednesday.

"CNPC has made it a distinctive strategy: to gain a foothold in countries with top reserve bases. Iraq and Iran are among the top in the list," the official said.

The South Pars gas field has reserves of about 14 trillion cubic meters of gas — or about eight percent of the world's reserves.

/Press TV/

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