By Najmeh Bozorgmehr in Tehran
Published: December 10 2007 02:00 | Last updated: December 10 2007 02:00
Iran signed a $2bn oil contract with Sinopec of China yesterday, sending a signal to western companies that they might miss out on potentially lucrative contracts with one of the world’s biggest energy exporters if they continued to heed US-inspired sanctions against Tehran.
“If other countries who like to invest in oil and gas hesitate, they will lose opportunities,” said Gholam-Hossein Nozari, Iran’s oil minister.
The contract to partly develop the giant Yadavaran oil field in south-west Iran is one of the biggest Tehran has signed and is the first with a Chinese company. “Implementation of the contract will start immediately,” Mr Nozari said.
Iran sits on the world’s second largest oil and gas reserves but it has not been able to attract enough investment for its development projects, fuelling fears that it might face an energy crisis in less than a decade.
Tehran has not signed any big oil and gas contracts with foreign companies during the past few years due to the prospect of international sanctions over the country’s nuclear programme. Iran’s buy-back scheme, under which investors must turn over the operation of fields – after their development – to the National Iranian Oil Company is another disincentive.
Yesterday’s deal reflects Tehran’s attempt to drive a wedge between the US and its allies by attracting non-western companies.
Yadavaran is estimated to contain 12bn-18bn barrels of oil. The contract involves production of only 85,000 bpd by the time the field is developed in four years. The second phase, to produce another 100,000 bpd, will be decided later.
Sinopec is obliged to give 51 per cent of its sub-contracts to Iranian companies.
Mr Nozari also said Iran had signed multi-billion dollar contracts with some other nonwestern companies to develop two major upstream oil fields a few months ago. He refused to give more details because the companies feared facing international pressure.
Japan’s Inpex withdrew from the development of Azadegan oil field last year following US pressure.
France’s Total, Royal Dutch Shell and Spain’s Repsol YPF have been negotiating to develop some parts of South Pars, the world’s biggest gas field. Iran has given them an ultimatum that it could wait only until June 2008.
Copyright The Financial Times Limited 2007
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Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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