Baku, Azerbaijan, Sept. 22
By Fatih Karimov - Trend: French giant energy company, Total, is willing to resume liquefied natural gas (LNG), oil and petrochemical production in Iran.
Stephane Michel, president of Middle East, Exploration and Production Division at Total, said that the company is willing to return to Iran once sanctions against the Islamic republic are lifted, Iran's Fars news agency reported Sept. 22.
In this line, we are waiting for Iran's new model of oil contract to be unveiled, he added.
"Before the sanctions, we were working at phases 2 and 3 of the South Pars gas field. Once the sanctions are lifted, the company will resume cooperation with Iran with providing finance and technology."
Lifting of the sanctions and the profitability of projects are Total's prerequisites for participation in Iran's projects, he noted.
Total's chief executive Patrick Pouyanné said in July that the company seeks oil and natural gas projects in Iran. He added that his company seeks liquefied natural gas (LNG) and oil projects in Iran.
"We are looking at both gas and oil. When we had to leave Iran in 2006, we were actively working at an LNG project at South Pars field in southern Iran. So, first of all, we are closely looking at LNG projects."
After the finalization of nuclear talks between Iran and the P5+1 group of countries, media reported that Total may develop phase 11 of the South Pars gas field.
Iranian Oil Minister Bijan Namdar Zanganeh said in July that Iran welcomes Total's return to the resource-rich country amid Tehran's drive to step up oil and gas development projects after the removal of sanctions.
Edited by CN