Publishe Date: 9:45 AM - 11/29/2016 | Print

Iran says oil talks not affected by Trump election victory

Politics - Iran says the election of Donald Trump as the next president of the United States has had no impacts on its negotiations with global energy corporations over its new oil projects.

Iran’s Petroleum Minister Bijan Zanganeh told the domestic media that Iran is moving ahead with several basic agreements that were awarded to oil giants before and immediately after Trump’s victory, adding that the agreements would be finalized within the next three months.

“The companies that Iran has signed heads of agreements (HOAs) will be the first ones to which the final deals will be awarded,” Zanganeh told IRNA news agency.

In early November, France’s Total signed an HOA with Iran’s Ministry of Petroleum over the development of Phase 11 of the country’s South Pars gas field. Total will based on the agreement lead a consortium which comprises China’s National Petroleum Company (CNPC) and Iran’s Petropars over the project.

Iran also awarded a basic agreement to Norway’s DNO to study the country’s Changuleh oil field shortly after Trump’s victory.

On Sunday, a memorandum of understanding was signed with Schlumberger – the world's largest oil field services company - over the development of several southern oil fields in Iran’s oil-rich province of Khouzestan.

The overtures by global corporations toward Iran’s oil projects come in light of the removal of sanctions against Iran as had been envisaged in a landmark nuclear deal between the country and world powers that came into effect in January.

US President-elect Trump in his campaigns had repeatedly threatened to undermine the deal that Iran sealed with the five permanent members of the Security Council – the US, Britain, France, China and Russia - plus Germany last summer.

He is yet to declare his official position toward the Iran deal – the Joint Comprehensive Plan of Action (JCPOA). However, his threats have already provoked strong reactions from not only Iran but also other signatories to the JCPOA – including the outgoing administration of President Barack Obama.

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