Total still in South Pars Phase 11, report claims

Source: Offshore

TEHRAN, Iran – There have been no changes to Iran’s multi-billion-dollar agreement with Total for Phase 11 of the South Pars gas field in the Persian Gulf, according to a report by news service Shana.

Mohammad Mostafavi, director of business and investment at National Iranian Oil Co., said: “Members of the consortium in charge of developing Phase 11 of South Pars will accomplish their roles as set forth in the provisions of the agreement and no modifications have hitherto been made to the provisions of the contract.”

Mostafavi was reacting to speculation that China’s state-owned energy major CNPC had reportedly taken over the share held by Total following the US’ decision to re-impose sanctions on Iran and companies seeking to invest in the country.

“In case any changes are made to the provisions of the agreement, necessary notification will follow,” he added.