Total fully ready to return to Iran's oil industry

TEHRAN, Oct. 20 (MNA) – A senior official of the French oil giant Total has announced the firm’s readiness to return to Iran’s oil industry and to provide the required finance and technology.

Speaking at the Oil and Energy Conference in Tehran on Monday, Total’s Managing Director of Commercial Excellence and Business Development in Southeast Asia, North Asia and Pacific Steve Mitchell referred to the first participation between Total and Iran for implementation of South Pars projects in 1995 and asserted, “total’s activities in Iran halted after the international sanctions against Iran were intensified.”

The official further announced his company’s eagerness to cooperate with the Iranian National Oil Company (NIOC) by the removal of sanctions and said, “Total is ready to provide services to Iran’s oil and gas industry.”

Steve Mitchell further enumerated three major plans of Total in Iran after the removal of sanctions as supplying of finance, new technologies and technical knowledge; “France’s Total possesses extensive international experience in the Middle East, Africa, Brazil and even Russia.”

Mitchell dubbed the 50 percent reduction in oil prices as a major challenge and said, “one of Total’s most important objectives in Iran and other parts of the world is to reduce costs of oil and gas production.”

The senior official emphasized the need to use new and upgraded technologies for reduction of production costs; “Total enjoys the world’s latest technologies to develop oil and gas industry and will try to increase recycling and productivity rates as well as reducing costs of production,” he added.

 “being one of the world’s greatest natural gas producers, Iran can play an important role in the global market,” said he.




News Code 111219


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