Iranian official: Total deal an icebreaker. More to come soon

Last week’s contract with the French oil and gas giant Total could open Iran for more foreign investments, or at least that’s what the Middle Eastern country is hoping for.

In an interview given to Financial Times, Iran’s deputy oil minister for international affairs Amir-Hossein Zamaninia said that the deal with total was „an icebreaker“ and Iran will see more „multibillion-dollar oil and gas contracts with other companies including Russians and Europeans soon.“

He reportedly said that the next such agreement might happen „in a few weeks“.

As for the Total deal, the French oil company had said it Total would “be happy” to be the first Western oil company to reach an agreement with Iran. Such wish was granted last Tuesday when the company signed a Heads of Agreement (HoA) with the National Iranian Oil Company (NIOC) for the development of phase 11 of South Pars, the world’s largest gas field.

The South Pars 11 project (SP11), located in the Persian Gulf, offshore Iran, will have a production capacity of 1.8 billion cubic feet per day, or 370 000 barrels of oil equivalent per day. The produced gas will be fed into Iran’s gas network.

Total will operate the SP11 project with a 50.1% interest alongside Petropars (19.9%), a 100% subsidiary of NIOC, and the Chinese state-owned oil and gas company CNPC (30%).

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Posted on November 14, 2016 with tags , .

Events>

<< Jul 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

8th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

Gas Indonesia Summit 2019

Gas Indonesia Summit & Exhibition is returning for the fourth edition in Jakarta…

read more >

Shanghai Int Petrochemical and Offshore Oil & Gas and Chemical Industry Technology and Equipment Exhibition 2019

cippe Shanghai has attracts both…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply