TOTAL not yet announced possible exit from South Pars Gas Field

TEHRAN, Aug. 12 (MNA) – Manager of the National Iranian Oil Company (NIOC) for Investment and Business Affairs Mohammad Mostafavi said that France oil major ‘Total’ has not yet announced its official exit from South Pars Gas Field.

Playing the role of members of the consortium for the development of Phase 11 of South Pars Gas Field is in accordance with the provisions of the contract, so that ‘Total’ has not yet announced its official exit from the development of Phase 11 of South Pars Gas Field.

Yesterday, NIOC manager in an interview on Sunday revealed that China National Petroleum Corporation (CNPC) replaced France’s oil major ‘Total’ with 80.1 percent share in developing Phase 11 of south Pars Gas Field.

Ministry of Oil corrected the news and announced that France’s oil major ‘Total’ exit from South Pars Gas Field is yet to be finalized, so that any change has not been occurred in combination of shareholders of this giant project.

Presently, France’s oil major ‘Total’, China National Petroleum Corporation (CNPC) and Iran PETROPARS Company account for 50.1, 30 and 19.9 percent share in Phase 11 of South Pars Gas Field respectively, he maintained.

Under the contract, an international consortium, headed by France’s Oil Major ‘Total’, had been set up, which had been composed of China National Petroleum Corporation (CNPC) and Iranian PETROPARS Company, he concluded.

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News Code 136673

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