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Reuters: Shell eyes stake in Iran oilfield

Published: 28/11/2006 

London: Royal Dutch Shell may take a stake in a three billion barrel Iranian oilfield as part of a deal between Sinopec and Iran that is nearing completion.

A Shell spokesman said Shell had helped Sinopec prepare a development plan for the Yadavaran field and had an option to participate in the project.

“We have supported Sinopec in a technical proposal for the appraisal and development of the Yadavaran field which they have submitted to NIOC (the National Iranian Oil Co),” the spokesman said.

“We can confirm that the agreement with Sinopec provides the option for Shell to become an equity partner with Sinopec in this field.”

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