Tag Archives: Petropars

Under the sanctions. Iran'.s oil output was slashed by nearly 40% as a handful of buyers shipped in about 1 million bpd of oil from the country under special waivers.

Based on the agreement. the French company would cooperate with Iran'.s Samin Sazeh over the project.

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

There is intense competition across the world to attract foreign investment. but the assets are limited while competition for absorbing them is high.

Iran is developing the mega gas project in 24 phases. of which 19 have already gone on stream.

France’s Total signed a deal with Tehran last month to develop phase 11 of South Pars.

Officials say the partnership of domestic companies with oil majors will gradually enhance the technical and managerial know-how of Iranian firms.

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.