Iran, Total to sign final agreement in upcoming days

EghtesadOnline: Final agreement will be signed between Iran oil ministry and Total Oil and Gas Company to develop phase 11 of the South Pars gas field in upcoming days, the chief executive of National Iranian Oil Company, Ali Kardor announced.

News ID: ۷۴۰۹۴۶

15 April 2017

Referring to the signing of twenty HOA and MoU with foreigners, Kardor said: “these MoUs have been signed with several valid international oil companies but there are also a series of companies which asked for joint field studies”.

“Currently, we are negotiating with Total for signing final agreement and the financial issues have done. I think the final agreement will be reached in upcoming days,” he said about negotiations with Total for developing phase 11 of the South Pars gas field, according to ISNA.

Mentioning to the Total’s attendance in Iran, Kardor added: “Total was among the first companies which entered Iran after the lifting of sanctions and it means that the company wants to act independently”.

Total became the first Western oil major to sign an energy agreement with Iran after the European Union and the United States undertook to lift sanctions on the Islamic Republic under a nuclear deal signed in July 2015.