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News // Politics

B. Zanganeh: Total pulls out of Iran gas deal

21 August 2018 , 12:08Neftegaz.RU482

Teheran, August 21 - Neftegaz.RU. Iranian Minister of Petroleum Bijan Zanganeh said France's energy major Total had official pulled out of the development project of phase 11 of the supergiant South Pars gas field.

 

Iranian official Bijan Zanganeh said that the French company Total had announced its plans to withdrawn from the project 2 months earlier. Asked about taking over Total's share in the contract by other companies, the official said the respective process was ongoing.

 

Total was among the first of the major European energy companies moving into the Iranian energy sector by signing memoranda of understanding with its Iranian counterparts after the U.N. deal was brokered in 2015.

 

Following the U.S. government’s announcement in May, Total, which had been preparing to start awarding oilfield equipment and services contracts for the project, said it would pull out amid the U.S. sanctions unless it was granted a waiver.

 

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