Publishe Date: 12:07 PM - 11/19/2017 | Print

Iran: Total cannot quit South Pars Phase 11

Economy - Iran's Minister of Petroleum said on Saturday that Total cannot back off its agreement for development of Phase 11 of Iran's South Pars Field under normal circumstances.

Noting that the agreement with the French oil giant is a valid one, Bijan Zangeneh said, 'We have legal valid contract with Total, CNPC and Petro Pars in which the circumstances under which the companies can step out of the contract has been made clear.'

'Total can withdraw from the contract with Iran only in case the UN Security Council adopts international sanctions against Iran,' the minister said.

 

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