Iran gives Shell, Repsol time to think, says Total delays project
National Iranian Oil Company (NIOC) has warned Shell and Repsol and has given the companies 45 days to make public program on participation in production from the South Pars fields, ISNA news agency reported.
The warning said if Shell and Repsol do not release their vision of participation in the project until the time set, "their place will be sold to other companies."
NIOC director Seyfollah Jashnsaz said Shell and Repsol signed contract with NIOC in 2007 to develop 13th and 14th phases of the South Pars gas field. "But the companies have not yet fulfilled commitments."
Jashnsaz said French Total has also signed a contract to take part in the development of South Pars field. "But it delays time too much."
"Therefore NIOC is holding discussions with a Chinese company on the project where Total will participate," Jashnsaz said.