Iran: Total pushes ahead with South Pars deal
Issue 1026
- 17 Nov 2016
| 1 minute read
French oil major Total has insisted the election of Donald Trump will not hinder its ground-breaking deal in Iran. On 8 November, Total signed a heads of agreement with National Iranian Oil Company (Nioc) for the development of the South Pars natural gas field’s phase 11. The $4.8bn project will have a production capacity of 1.8bcf/d, which will be fed into Iran’s gas network. Total will operate the project with a 50.1% interest, alongside Nioc subsidiary Petropars (19.9%), and China National Petroleum Corporation (CNPC – 30%).
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