Tag Archives: Iranian Private Sector Companies

Pertamina and NIOC signed a memorandum of understanding (MoU) to carry out a preliminary study on the oil and gas fields.

The deal for phase 11 of the field marked the first by a major global energy company signed with Iran since the easing of sanctions against Tehran in January 2016.

Total holds a 50.1 interest in the South Pars project with state-owned China National Petroleum Corporation owning 30 percent and Petropars 19.9 percent.

The agreement was signed at a ceremony in Tehran attended by Zangeneh. Total’s CEO Patrick Pouyanne and senior officials from China’s CNPC and Iran’s Petropars.

Iran needs 200 billion dollar investment to develop oil industry which should be supplied through foreign sources.

Under the terms of the deal. Iran’s Petropars is committed to finance the study phase of the project while Toyo of Japan will undertake financing of its executive phase.

The development of Phase 11 of the South Pars project will cost up to $5 billion.

South Pars is the world'.s largest gas field. shared between Iran and Qatar.

Total will operate the SP11 project with a 50.1 percent interest. while Iranian Petropars Company and the Chinese CNPC will have a share of 19.9 and 30 percent. respectively.

Total has a 50.1-percent share in the deal. The state-owned China National Petroleum Corp. has 30-percent stake and Iran’s Petropars has 19.9 percent.