News ID: 13952
Published: 0403 GMT October 21, 2014

Total's CEO killed in Moscow plane crash

Total's CEO killed in Moscow plane crash

The chief executive of French oil major Total Christophe de Margerie who had expressed willingness to return to Iran's oil market was killed in Moscow when his private jet collided with a snow plough.

De Margerie, 63, was in Russia to attend a state meeting on foreign investment, IRNA reported.

De Margerie's Dassault Falcon jet collided with the snow plough when the plane was taking off from Moscow's Vnukovo airport minutes before Monday midnight Moscow time.

Total is France's second-biggest listed company, with a market value of 102 billion euros.

De Margerie had previously said that his company was ready to cooperate with Iran in its oil projects after removal of Western sanctions which prevented international companies from dealing with Iran.

Total is interested to make investments in Iranian oil projects, if the present situation is changed, de Margerie had said.

He added if the terms of Iran's upstream contracts became more attractive, Total was prepared to resume its activities in Iran following removal of Western sanctions against the country.

Total was actively present in Iran's oil sector in the past. The firm developed Iran's offshore oil field in the Persian Gulf's Island of Siri in 1990s.

Until 2009, Total was involved in the drawn-out development of Iran’s vast South Pars natural gas field, also in the Persian Gulf’s waters.

Following the removal of some Western sanctions against Iran after the Geneva nuclear agreement reached between Tehran and Group 5+1 which was made on November 24, 2013, a large number of major Western companies, including the Total, expressed willingness to return to Iran.

In their latest meeting with Iran's Oil Ministry officials, Total's authorities had said they would go back to the Iranian market when sanctions preventing international oil companies from dealing with Tehran were lifted.

   
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