Nov 25, 2018, 7:20 PM
News Code: 83112098
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Petroleum Min: Chinese firm replaces Total in South Pars

Tehran, Nov 25, IRNA – Iranian Petroleum Minister Bijan Zangeneh referred to Total withdrawal from South Pars phase 11 saying Chinese company CNPC replaced the French company.

'We should hold talks with the CNPC to see when they will start activities,' Zangeneh said.

Zangeneh had announced on Monday that the French oil and gas company Total has officially left the contract with Iran to develop the South Pars oil field in southern country.

In July 2017, National Iranian Oil Company (NIOC) and the International Consortium, headed by Total, signed an oil deal in the post-sanction era to develop phase 11 of South Pars.

As per the contract, CNPC of China and Iran's Petropars were other members of the international consortium.

Total's stake in the project was 50.1 percent, while that of CNPC and Petropars were 30 percent and 19.9 percent respectively.

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