News ID: 203739
Published: 0341 GMT November 04, 2017

Total begins activities in South Pars field: Zanganeh

Total begins activities in South Pars field: Zanganeh

Iran's Oil Minister Bijan Namdar Zanganeh said France's energy giant Total has started work on the country's giant South Pars Gas Field.

New US sanctions against Iran are unlikely to affect the country's oil and gas contracts with foreign states, Zanganeh told reporters on Saturday, reported Shana.

"Total has begun its work to develop Iran's South Pars Phase 11," the minister added.

Total has opened an office in Washington in a bid to strengthen relations with the US administration as the French oil and gas company prepares to invest billions in Iran.

Total Chief Executive Officer Patrick Pouyanne confirmed Total opened a government relations office, telling Reuters, "We should have done a long time ago."

In July, Total became the first Western energy firm to sign a deal with Iran since the easing of international sanctions in 2015, agreeing to develop Phase 11 of the South Pars offshore gas field with a total investment of $5 billion.

But the future of the project was thrown into doubt after President Donald Trump last month refused to certify Iran was complying with an international deal over Iran's nuclear ambitions, leaving Congress to decide by mid-December whether to reimpose those US sanctions on Iran that had been lifted.

For now, Total was continuing plans to develop the first phase of South Pars, estimated to cost $1 billion, issuing tenders for services, Pouyanne told an event at Chatham House in London on Thursday.

Security Key:
Captcha refresh
Page Generated in 0/0929 sec