In addition to India, China has expressed interest in LNG imports from Iran. In October 2004, Iran signed a $100 billion, 25-year contract with Chinas Sinopec for the production and export of LNG to that country (possibly 10 million tons per year), plus construction of a refinery for Natural Gas condensates and development of the Yadavaran oilfield. Under terms of the deal, Sinopec would have rights to purchase half of Yadavarans 300,000-bbl/d peak Oil output over the 25-year contract period. However, Iran also received bids on Yadavaran from other foreign companies, so the fields status is not completely clear.