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Total ?South Pars Investment to Stay in Iran

Source: www.gulfoilandgas.com 9/9/2018, Location: Asia

Iranian Minister of Petroleum Bijan Zanganeh said Total was not expected to pay a fine to Iran, but the amount that the company had already spent in South Pars Phase 11 project would not be repaid until the project becomes operational.

According to ICANA, Iranian parliament"s website, the official said the French company did not have any special equipment left in Iran for the purposes of the project.

Total left the South Pars deal after the United States threatened to impose sanctions on companies that do business in the country.

The share of China"s CNPC International has reached 80.1 percent in Iran"s South Pars Phase 11 Project after Total pulled out of the project.

The United States reimposed sanctions on Iran after Washington withdrew from the 2015 nuclear agreement between Tehran and world powers.

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