CCTV.com - CNTV English - CCTV News


Homepage > News > Biz >

Iran drops Polish company from gas field project

12-20-2011 10:43 BJT

TEHRAN, Dec. 19 (Xinhua) -- National Iranian Oil Company (NIOC) dropped Poland's state-owned PGNiG from a Lavan gas field development project, local satellite Press TV reported on Monday.

Iran replaced the polish company with a consortium of Iranian companies, which are to sign the contract with Iranian Offshore Oil Company (IOOC) in the presence of Iranian Oil Minister Rostam Qasemi, according to Press TV.

The project aims to produce about 849,505 cubic meters of natural gas daily.

After about four years of negotiations between NIOC and PGNiG on a 7 billion U.S.-dollar project, the Polish company was excluded from the field's development due to its repeated delays and missed deadlines, said the report.

Iran is under Western sanctions that affect the international development of its oil and gas projects over its controversial nuclear program which the West suspects of military purposes. The Iranian government strongly rejects such allegations.

Several Western energy giants, including Total and Shell, have already withdrawn from the country's energy sector.

In October, Iran said it decided to replace Russia's Gazprom by domestic companies in Azar oil field after the Russian company failed to meet its obligations to finalize the project.

According to local English-language daily Tehran Times, although several big multinational oil companies have pulled out of Iran's oil and gas projects in recent years due to U.S. pressure, Iran has been able to solve the problem by attracting small and medium firms.

Iran, a member of the Organization of Petroleum Exporting Countries (OPEC), is the world's fourth largest oil producer with an output of about 4 million barrels per day. The country's recoverable oil reserves are estimated at over 137 billion barrels, or 12 percent of the world's total.

Editor:Zhang Hao |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program