Total determined to continue cooperation with Iran

Tehran, July 4, IRNA – Total Chief Executive Officer Patrick Pouyanne said that his company’s cooperation with Iran in South Pars 11th phase will help promote Iran’s relations with France and Europe.

On the sidelines of signing deal for developing the offshore section of the South Pars’ 11th Phase, he said in response to a question whether there is a guarantee for Total to continue cooperation with Iran that Total respects international regulations and is determined to continue its cooperation with Iran.

He further noted that his company will also cooperate with Iran in other arenas such petrochemical industry.

Addressing signing ceremony of the deal, he said, “We have returned to Iran again to start serious cooperation.”

He also described signing deal with the Iranian side as a historic day.

Total was present in Iran’s oil industry since a long time ago and signed its first deal with Iran in 1995, the official said.

Under the 1995 deal, Total was committed for development of second and third phases of South Pars.

Pouyanne referred to Rouhani’s last year’s visit to Paris which led to inking several agreements between the two countries, and said that 'today’s deal is a sequel to those agreements'.

National Iranian Oil Company (NIOC), Total, CNPC and Petropars on Monday, July 3, signed a $4.8bn contract for development of South Pars gas field phase 11.

Total will operate the SP11 project with a 50.1% interest, while Iranian Petropars Company will have a share of 19.9% and the Chinese CNPC 30%.

The contract was signed by the NIOC Chief Ali Kardor, Petropars Head Hamid Akbari, Total’s Pouyanne and CNPC CEO in presence of Iran’s Minister of Petroleum Bijan Zangeneh and the French and Chinese ambassadors to Tehran as well as parliamentary Energy Committee members and senior petroleum ministry officials.