CNPC Starts South Azadegan Feed Work

摘要

State-run China National Petroleum Corp. (CNPC) has kicked off the front-end engineering and design (Feed) work at Iran's South Azadegan project, paving the way for full development of the 42 billion barrel oil field near the Iraqi border (IOD Nov.12'12). The Feed starts at a time when Iran -- and its energy sector in particular -- is being squeezed by US and EU sanctions over Tehran's nuclear program, but strong cash positions have enabled CNPC and other Chinese oil companies to fill the void left by an exodus of international oil companies from the Islamic republic.