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Iranian official: Holding the gas field with Total and the Chinese company has not changed

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rocky
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Iranian official: Holding the gas field with Total and the Chinese company has not changed

Post by rocky on Sun 12 Aug 2018, 2:02 am

Iranian official: Holding the gas field with Total and the Chinese company has not changed

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A senior Iranian official in the oil sector said the contract between France's Total and China's CNPC had not changed, according to the Iranian Oil Ministry's Web site (Shana).
The announcement came hours after a report by the Islamic Republic News Agency (IRNA) said the Chinese company had acquired Total's stake in Iran's "South Pars" project, the Reuters news agency reported on Saturday.
"The role of the members of the consortium, which develops this project, is compatible with the terms of the contract and there have been no official changes to these terms," ​​the Iranian Oil Ministry's website quoted Mohammad Mustafawi, investment director of NIOC, as saying.
The Islamic Republic of Iran news agency quoted Mustapawi as saying earlier that CNPC had acquired Total's stake in Iran's huge multi-billion dollar gas project. Reuters said there was no explanation for the apparent contrast.
Total signed a contract in 2017 to develop the second phase of the South Pars field with an initial investment of $ 1 billion, making it the first major Western investment in the country after lifting the sanctions imposed in 2016. But the French company said it would withdraw unless it included sanctions America.
A spokeswoman for Total declined to comment. At the same time, the Chinese company did not immediately confirm the report of the Islamic Republic News Agency.
The company earlier controlled a 30 percent stake in the project before it now acquired Total's 50.1 percent stake, according to the agency, while the rest is held by Petropars.

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