Iran, Total in Talks for Developing South Pars Phase 11: Official

Reacting to recent assertions by Total CEO regarding the project, the official, who decided to remain unknown, said an agreement has been reached with Total and talks are still continuing for finalizing a deal. 

“There are of course some political matters to consider regarding the issue, but our colleagues at the Iranian Ministry of Foreign Affairs are seriously pursuing the matters through the EU and the P5+1 countries,” the Iranian source said. 

NIOC has signed a heads of agreement (HOA) with a consortium comprising the Total, CNPC and Petropars for developing the project. 

Total Chief Executive Patrick Pouyanne told reporters in Paris on February 09 that the development of Phase 11 of Iran’s South Pars gas field will be among a couple of projects to be approved by the company to start by the summer.

However, Pouyanne emphasized that a decision to that effect will depend on whether US President Donald Trump waives executive orders against investments in the Iranian energy sector.

“There are two executive orders that are supposed to be renewed before summer,” he said, explaining that Obama’s administration had signed waivers suspending the sanctions.