Total chief underlines staying with commitments in Iran

Tehran, March 19, IRNA – If the US walks away from Iran deal, Total will comply with its commitment in Iran, Chairman and the Chief Executive Officer (CEO) of the French energy company said.

“French oil major Total is committed to the development of an Iranian gasfield and will apply for a waiver if US President Donald Trump unilaterally withdraws from the 2015 Iran nuclear deal and re-imposes sanctions on Tehran, The Scottish Daily ‘The National’ quoted Patrick Pouyanne as saying on Sunday.

“If the US decides to put back the sanctions, we have to look at what the consequences are…and then we will see, either Donald Trump decides to maintain the waivers and we will move on with the project,” he said.

“If the US decides not to sign the waiver, then what will be our position, it’s quite simple - as the project has been awarded prior to that decision during the period of time that we could sign … we will argue that we should benefit from the grandfather clause and we will ask for a waiver from the US authorities.”

National Iranian Oil Company (NIOC), Total, CNPC and Petropars on July 3, 2017, signed a 4.8-billion-dollar contract for development of South Pars Gas Field phase 11.

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

Phase 11 project has two platforms with a capacity of 28 million cubic meters per day, Total's quota is 50.1 percent and CNPC and Petropars have 30 percent and 19.9 percent, respectively.

9376**2044

Follow us on Twitter @IrnaEnglish