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Publish Date : 07-Feb-2017

Frances giant Total has already set in motion its plans to develop Irans energy projects, a move that would probably make other global known energy firms uncertainty away about the prospects for making investments in Iran.

National Iranian Oil Company's deputy for development and engineering affairs stated that Total has officially started the development of Phase 11 of Irans South Pars natural gas zone.

Gholam-Reza Manouchehri added that the three signed Heads of Agreement (HOA) with the NIOC last November to invest $4.8 billion in the project is what was seen at the time as the biggest contract that Iran had awarded for an industrial project after the removal of the sanctions in early 2016.

He added that the French giant was at the same time negotiating with Iran over cooperating in providing a chain of oil sector engineering services.

Manouchehri stated that those services included the construction of equipment, drilling operations as well as downstream and upstream activities.

The official further emphasized that Iran wanted to use the help of French companies including Total to promote its technical abilities in the oil industry.

He added that the NIOC had to the same effect negotiated with certain French companies that had accompanied the countrys Foreign Minister Jean-Marc Ayrault during his stay in Tehran from Monday to Wednesday.

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