China and Iran: Partners in Yadavaran

Via Radio Liberty, a report on a multibillion-dollar agreement recently concluded between China and Iran to develop the big Yadavaran oilfield in southern Iran.  As the article notes:

“…The Yadavaran oil field has crude oil reserves estimated at three billion barrels. That appears to be an irresistible statistic for China, whose oil-hungry economy is slated to grow another 9 percent this year.

China’s Sinopec will reportedly have a controlling 51 percent stake in the Yadavaran project, with the National Iranian Oil Company (NIOC) taking about a 20 percent share. But foreign companies are also eager prospective partners. India’s Oil and Natural Gas Corporation is buying into the project, and the Anglo-Dutch Shell — the world’s second biggest oil company — is also interested. Shell last year supported Sinopec in preparing a technical assessment on developing the new oilfield. Sinopec later handed this assessment to Iran’s NIOC, and there have already been discussions on the proposal….”

This entry was posted on Monday, March 16th, 2009 at 10:22 am and is filed under China, Iran, National Oil Company of Iran, Sinopec.  You can follow any responses to this entry through the RSS 2.0 feed.  Both comments and pings are currently closed. 

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Wildcats & Black Sheep is a personal interest blog dedicated to the identification and evaluation of maverick investment opportunities arising in frontier - and, what some may consider to be, “rogue” or “black sheep” - markets around the world.

Focusing primarily on The New Seven Sisters - the largely state owned petroleum companies from the emerging world that have become key players in the oil & gas industry as identified by Carola Hoyos, Chief Energy Correspondent for The Financial Times - but spanning other nascent opportunities around the globe that may hold potential in the years ahead, Wildcats & Black Sheep is a place for the adventurous to contemplate & evaluate the emerging markets of tomorrow.