Reports: China, Iran near huge oil field deal - Oil & Energy - MSNBC.com

Reports: China, Iran near huge oil field deal - Oil & Energy - MSNBC.com: "Feb. 17, 2006

SHANGHAI, China - China and Iran are close to setting plans to develop Iran's Yadavaran oil field, according to published reports, in a multibillion-dollar deal that comes as Tehran faces the prospect of sanctions over its nuclear program.

The deal is thought potentially to be worth about $100 billion.

According to Caijing, a respected financial magazine, a Chinese government delegation is due to visit Iran as early as March to formally sign an agreement allowing China Petrochemical Corp., also known as Sinopec, to develop Yadavaran."