Jul 3, 2017, 6:12 PM
News Code: 82585156
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Total resolved not to give up

Tehran, July 3, IRNA -- Total Chief Executive Officer Patrick Pouyanne said on Monday that Total will not leave the scene as it respects international laws.

Pouyane made the remarks in a press conference after signing a Heads of Agreement (HOA) contract with National Iranian Oil Company (NIOC) for development of Phase 11 of South Pars gas field.

“The contract is a major contract which would contribute to the development of relations between Iran and France and Europe,” the Total chief added.

Pouyane said Total cooperation will contribute to stronger relations between Iran and France and Europe at large.

National Iranian Oil Company (NIOC), Total, CNPC and Petropars on Monday, July 3, signed a $4.8bn contract for development of South Pars gas field phase 11.

Total will operate the SP11 project with a 50.1% interest, while Iranian Petropars company will have a share of 19.9% and the Chinese CNPC 30%.

The contract was signed by the NIOC Chief Ali Kardor, Petropars Head Hamid Akbari, Total’s Pouyanne and CNPC CEO in the presence of Iran’s Minister of Petroleum Bijan Zangeneh and the French and Chinese ambassadors to Tehran as well as parliamentary Energy Committee members and senior petroleum ministry officials.

Pouyanne said his company is also to sign petrochemical contracts with Iran, adding that the contract signed today was in pursuit of contracts signed in the course of Iranian president Hassan Rouhani’s Paris visit last year.

In an address to the signing ceremony, Pouyanne said his company is back to Iran again to contribute to Iranian projects.

He said the first contract Total signed with Iran dates as back as 1995 for development of phases two and three of South Pars.

Referring to July 3 gas deal signing with the Iranian and Chinese party as a historical day, the Total official said the contract falls within framework of the IPC contract.

The CNPC CEO, for his part, said his company is well-prepared for signing the contract and is happy with cooperation with Petropars and Total.He said successful development of South Pars Phase 11 is his company target.