US election outcome unlikely to affect Iran’s oil plans
Baku, Azerbaijan, Nov. 12
By Khalid Kazimov – Trend:
The outcome of the US presidential election is very unlikely to have a negative impact on Iran’s plans to develop its oil fields, an official with the Islamic Republic’s Oil Ministry said.
Gholamreza Manouchehri, a deputy head at National Iranian Oil Co, has said the efforts made by his company on drafting and finalizing oil contracts with international companies will not be impacted by the outcome of the US presidential election, IRNA news agency reported Nov. 12.
He added that Total’s resumption of activity in Iran has exerted a positive psychological impact on other international companies.
Earlier on Nov. 8, Iran inked its first oil agreement with a consortium led by Total in the post-sanctions era. The China National Petroleum Corporation (CNPC) as well as Iran’s Petropars, a subsidiary of National Iranian Oil Company, are involved in the consortium.
Under the heads of agreement signed by the sides, Total is expected to operate the Phase 11 of South Pars gas field in Iran with a 50.1-percent interest alongside Petropars (19.9 percent) and CNPC (30 percent).
Iran’s Oil Minister Bijan Namdar Zanganeh has said the cost of the project is expected to reach $4.8 billion.