ID : N-1788 Date : 2018/05/17 - 11:17
(Persia Digest) – Iran’s Petroleum Minister has said: “As indicated in our agreement, if the French company, Total, withdraws from South Pars 11 gasfield development, China’s CNPC will take over.”
At the signature ceremony of Karanj oilfield development with Pergas Consortium, Bijan Zangeneh added: “Total has announced that if the United States does not grant it sanctions exemption, it will start the process of withdrawing from the Phase 11 development contract, based on the contract.”
He reminded: “China’s CNPC will take over from Total. If the Chinese should also decide to withdraw, work will be continued by Petropars.”
Zangeneh also announced: “A withdrawal by Total from the agreement does not entail penalties, but the sum invested by the company in the project thus far will not be repaid until implementation of works.”
Persia Digest reports that news of Total withdrawing have been published following the US withdrawal from the JCPOA, but the company has not yet made a final decision.