CNNC China National Nuclear : CNPW is in the list of IRAN new IPC qualified company

Jan 2nd,2017,Iran's oil ministry has announced that they certified 29 international companies to bid for oil and gas projects in the country under its new format of oil contracts. There are four Chinese oil companies in the list which including CNPW. CNPW is a consortium which was leading by CNNC's subsidiary company CNOG.

According to the report by the Iran oil ministry's news website Shana, 29 companies, including China's three major oil company CNPC, CNOOC & SINOPEC, and France's Total, Italy's Eni, and Russia's Lukoil, as well as companies from Austria, Japan and other countries, will be allowed to invest in the Islamic Republic's oil and gas projects under the Iran Petroleum Contract (IPC) model.

The new oil and investment contract for international firms, known as the Iran Petroleum Contract (IPC), will replace Iran's buyback oil deals.

Iran worked on the oil contract model for two years.

Remarks:

CNPW(China Nuclear Petroleum & WLE) is a consortium of CNOG & WLE. CNOG as a CNNC's subsidiary company had a long term cooperation with WLE(Well Logging Energy), besides IRAN IPC, they had cooperation in other O&G project as well.