NIOC to finalize deal with Total within 2 months

News ID: 3913573 -
TEHRAN, Feb. 21 (MNA) – Iran’s oil minister has announced that the development contract with France’s Total company will become finalized in the coming two months.

In response to a member of the Parliament, Bijan Zanganeh said new Iranian Petroleum Contracts (IPCs) were still underway refuting the news on their halt.

When asked any IPCs were sealed with foreign parties, the official said only five or six cooperation agreements have been inked since contract signing proves to be a time-consuming process.

Iran’s petroleum minister said the first IPC will be endorsed with Total oil company in a maximum of two months.

Zanganeh had previously stated that Iran was seeking partnership with Total and that a contract would be signed. Meanwhile, Total CEO has announced that his country would await for America’s stance on the issue.

Iran’s senior oil official, in a quibble over the remarks made by Total’s director, emphasized “as far as I know, the European Union does not pursue the policy of compliance with the US.”

“We take necessary measures for signing the contract though we complaint about the words of Total CEO,” he continued.

Also, Hedayatollah Khademi, a member of Energy Commission in the Iranian Parliament, had criticized that no IPC contracts had been signed with foreign parities; “only MoUs have been inked with foreign investors who visited Iran, an agreement which brings no obligation for the two sides.”

“The new model of oil contracts dubbed as Iranian Petroleum Contracts (IPCs) reached a stalemate after being approved,” he underlined.

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