CNPC signs pact to develop South Azadegan oilfield
By Xiao Wan | China Daily | Updated: 2009-08-01 08:27
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The South Azadegan investment will help CNPC's overseas development plans. CFP |
China National Petroleum Corp (CNPC) has signed a memorandum of understanding (MOU) with National Iranian Oil Company (NIOC) over the development of South Azadegan oilfield, under which the Chinese company will cover 90 percent of development costs and take 70-percent stake in the project.
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