Chinese firm seeking to exit South Pars gas project

An official in the Iranian regime’s Oil Ministry revealed a Chinese company is demanding to exit a contract based on developing the gigantic South Pars gas field in Persian Gulf waters, the state-run Asr-e Iran daily wrote.
“The Chinese have shown a lot of interest in departing this project,” said Oil Ministry spokesman Alireza Nikzad-Rahbar. “Following another economic assessment, this company no longer has any interest in remaining in Phase 11 of the South Pars gas field project.”
One state-run daily wrote in this regard, “During the past year Iranian officials have placed much effort to encourage the Chinese to remain in South Pars. However, the Chinese are departing South Pars to obtain higher profits elsewhere.”