Iran General NewsTotal says Iran gas investment "not attractive"

Total says Iran gas investment “not attractive”

-

ImageReuters: French oil major Total sees the investment terms offered by Iran for developing gas fields as "not attractive enough", the group's Chief Executive told a conference on Thursday.

ImagePARIS, April 2 (Reuters) – French oil major Total sees the investment terms offered by Iran for developing gas fields as "not attractive enough", the group's Chief Executive told a conference on Thursday.

"It is very important to reduce the costs of energy projects, we will see if we can get acceptable terms, but frankly today the terms offered today (in Iran) are not attractive enough," Christophe de Margerie told delegates. "Because of the unsatisfactory conditions, Total was never able to strike a real deal for the South Pars project," de Margerie said.

Last month Iran accused Total of wasting time and said that a new partner would enter the South pars project with a leading share.

Total has a memorandum of understanding with the state-owned National Iranian Oil Company to develop Phase II of the South Pars field but the project has been overshadowed by haggling over contract terms.

But Yves-Louis Darricarrere, Total's head of exploration and production, said "slow" negotiations were ongoing with Iran.

"I am not dragging my feet but we need to work on those agreements as the terms needs to be attractive enough to work," Darricarrere told reporters on the sidelines of the conference.

Many agreements were needed for such huge projects, which were complex and sophisticated, he said.

"You need an agreement for the upstream plant, on the plant itself and you need to know under which condition the gas will be supplied from upstream to downstream," Darricarrere said.

Many western majors such as Total had come under pressure to stay out of Iran from the French governemnt and the previous U.S. administration, which sought to isolate Tehran over its nuclear programme. (Reporting by Muriel Boselli and Ikuko Kao, Editing by Peter Blackburn)

Latest news

Iran’s 2023 Budget Shrouded In Doubt

On January 22, the Majlis (parliament) approved the draft of the 2023 budget bill proposed by regime president Ebrahim...

Iran: People of Khoy Still Reeling From 5.9-Magnitude Earthquake

An earthquake with a magnitude of 5.9 struck northwest Iran on Saturday, killing at least three people and injuring...

Iran’s Unsolvable Air Pollution Problem

Air pollution will remain at dangerous levels and will increase for the next few days in most big cities,...

The World Must Acknowledge the Iranian People’s Right to Self-defense

Victor Hugo once said: “When dictatorship is a fact, revolution becomes a right.” Throughout history, this has been the...

Iran: 60% Of Population Is Poor

The livelihood baskets of the Iranian people are shrinking dramatically. This, in turn, has introduced new concerns to protect...

The implications of EU’s terrorist designation of the Revolutionary Guards (IRGC)

The European Parliament called on January 18 for the European Union to list Iran's Revolutionary Guards (IRGC) as a...

Must read

EU expects nuke talks with Iran soon

AP: The European Union's foreign policy chief Javier Solana...

EU urged to step up sanctions on Iran – British daily

Iran Focus: London, Jan. 19 – Germany is proposing...

You might also likeRELATED
Recommended to you