China is the most important investor in Iranian exploration and extraction operations, and has been selected to develop the Azadegan and Yadavaran oil and natural gas fields, and the South Pars field.
Not long ago it was hospitable to foreigners: As oil minister, Bijan Namdar Zanganeh, an ally of powerful former president Ali Akbar Hashemi Rafsanjani, in the late 1990s pushed through billions of dollars in agreements with Shell, France's Total, Italy's Eni, Schlumberger and Halliburton to develop large and technically challenging projects, such as Iran's huge South Pars field, which is believed to hold 7% of the world's natural gas supply.
Not too long ago it was hospitable to foreigners: As oil minister, Bijan Namdar Zanganeh, an ally of powerful former president Ali Akbar Hashemi Rafsanjani, in the late 1990s pushed through billions of dollars in agreements with Shell, France's Total, Italy's Eni, Schlumberger and Halliburton to develop large and technically challenging projects, such as Iran's huge South Pars field, which is believed to hold 7% of the world's natural gas supply.
Most of its efforts are concentrated in the South Pars gas field where it holds high percentages in various exploration and development projects.
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The rest comes from spots like Azerbaijan, Angola, Algeria and Iran, where it weathered a bribery scandal in 2004 and is developing the giant South Pars gas field.
Meanwhile, the head of Total, Christophe de Margerie, told the Financial Times the company's planned development of the huge South Pars gas field in southern Iran would not go ahead.
Spain's Repsol confirmed on Monday that it had withdrawn from a contract it won with Royal Dutch Shell to develop the South Pars gas field in southern Iran, Reuters news agency reported.
Included in these are projects at Kharg Island and Dorood field, projects at the Balal oil field and a 40% stake in the South Pars natural gas field.
The company is one of five worldwide in a joint-venture to develop the South Pars offshore gas field (the others include companies from close U.S. allies France and Canada as well as Indonesia and Russia).
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