Bitter experience of Chinese investor with Iranian contractor
Recently Sinopec International Petroleum Exploration and Production Corporation (known as Sinopec) which is the main contractor in developing Iran’s Yadavaran oilfield (shared with Iraq in Iran’s southwestern region of Karoun) has claimed that an Iranian company caused them several hundred millions of dollars of financial damage under two EPCC contracts. The Tehran Times followed the story and it turned out that Sinopec was right and a series of unfortunate events had led to a bitter experience for the foreign company in Iran. Such ...
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