France’s Total Waiting for US Decision on Iran: Official

TEHRAN (Tasnim) – Iranian Deputy Oil Minister for International Affairs Amir Hossein Zamaninia said that in order to sign a cooperation agreement with the Islamic Republic, the French energy giant Total is waiting for the US decision on anti-Iran sanctions.

France’s Total Waiting for US Decision on Iran: Official

The French company is willing to cooperate with Iran in the development of phase 11 of the South Pars gas field and other oil and gas projects of the country, the deputy minister said.

However, Total has announced that it is waiting for a final decision by the US about Iran, he added, referring to Washington’s new economic sanctions against Tehran.     

The Iranian oil official also pointed to the increase of oil exports after the July 2015 nuclear deal between Iran and world powers, saying that the exports have doubled.

In the last months of the current Iranian year (which will end March 20), Iran exported 2.639 million barrels of oil and gas condensates, Zamaninia said.

Total is negotiating with Iran on cooperation in the development of the South Pars gas field, which is located in the Persian Gulf along the maritime border between Iran and Qatar.

On February 9, chief executive of the French oil major said Total plans to make a final investment decision on a $2 billion gas project in Iran by the summer, but the decision hinges on the renewal of US sanctions waivers.

Patrick Pouyanne said South Pars 11 will be among a couple of projects to be approved by the company to start by the summer if nothing is modified regarding the sanctions.

Total was the first Western energy company to sign a major deal with Tehran after the lifting of anti-Iran sanctions under the Joint Comprehensive Plan of Action (JCPOA), the nuclear agreement between Iran and the Group 5+1 (Russia, China, the US, Britain, France, and Germany).

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