Caspian Energy Journal Caspian European Club
Monday, 26 November 2018 17:00

Chinese firm replaces Total in South Pars

Iranian Petroleum Minister Bijan Zangeneh referred to Total withdrawal from South Pars phase 11 saying Chinese company CNPC replaced the French company, Caspian Energy News ( reports with reference to IRNA.

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

Zangeneh has announced that the French oil and gas company Total had 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.

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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Person in charge of the newsline: Olga Nagiyeva 

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