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China, Iran close to finalize energy contracts
(AFP)
Updated: 2006-02-17 18:55
In talks in Tehran in December, both sides agreed to seek to finalize the
deal early this year, Caijing reported.
Sinopec chairman Mu Shuling told the magazine this week that his company
would take a 51 percent stake in the Yadavaran project and India's Oil and
Natural Gas Corp would take 29 percent.
The remaining 20 percent could go to an Iranian firm, while Royal Dutch Shell
had also expressed an interest, it said.
If sealed, Iranian officials have said the agreement would mark one of the
biggest ever foreign contracts for Iran.
The Islamic republic has the world's second largest oil and gas reserves. But
its constitution stipulates the "prevention of foreign economic domination over
the country's economy."
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