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Date: December 2009 – February 2012

Deal: According to Iran's Press TV, in December 2009, the director of Iran's National Oil Company (NIOC), Seifollah Jashnsaz, announced that Angola's national oil company, Sonangol, was offered a 20 percent share in the development of phase 12 of Iran's South Pars gas project. Phase 12, which is slated to produce 3 billion cubic feet of gas per day, will cost $7.5 billion to develop. Indian firms Oil and Natural Gas Corp (ONGC) and Hinduja will share 40 percent of the project, while Naftiran Inter-Trade Company, a NIOC subsidiary, will hold the remaining 40 percent (Press TV (Iran), December 2, 2009).

According to Reuters, Sonangol informed Iran in February 2012 that it was withdrawing from the South Pars gas project due to sanctions on Iran (Reuters, February 24, 2012).

U.S. Business Ties: According to,  Sonangol received a contract valued at $5,000 from the U.S. Department of State in 2004 (, Accessed August 19, 2014).

Last Updated: August 19, 2014