China plans to invest $ 3 billion in Iran's oil and gas sector

by **claud39** Fri Jan 18, 2019 8:26 am

https://www.almaalomah.com/2019/01/18/383802/

China plans to invest $ 3 billion in Iran's oil and gas sector

18/01/2019

China plans to invest $ 3 billion in Iran's oil and gas sector %D8%A7%D9%84%D9%86%D9%81%D8%B78-696x387

Information / Baghdad ..

Despite a US embargo on Iran, a Chinese company plans to enter into a $ 3 billion contract with Iran to invest in Iran's oil and gas sector, the Wall Street Journal reported.

The Chinese company said it was a major Chinese company, Sinopec, which plans to invest in the development of an Iranian oilfield, indicating that various countries are seeking to benefit from the temporary exemption from the ban. Against Iran.

The newspaper pointed out that the Chinese decision comes to pursue the profitable deal with Iran and to strengthen the presence in it, coinciding with the withdrawal of some European companies, such as Italian companies.

China's Sinopec has proposed to Iran that it pay $ 3 billion for the oil it buys from Tehran to implement the Yad Koran development project.

The current production volume of the field is about 90 thousand barrels per day, and the volume will increase after the development process to 180 thousand barrels.

According to informed sources, the Chinese company has informed the United States of America of its intention to implement the Yad Koran oil development project.