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The long-running saga regarding the potential development of phase 11 of the South Pars gas field in Iran by Total, took a new twist yesterday after the managing director of National Iranian Gas Export Company denied that the French supermajor were no longer involved in the project.
The Mehr News Agency in Iran reported that Seyyed Reza Kasaeizadeh said that Total were still interested in taking part in the phase 11 and he had no knowledge of the company being booted off the project by Iran’s oil ministry.
Kasaeizadeh’s claims were backed up by the head of National Iranian Oil Company (NIOC) Seifollah Jashnsaz, who said he was also unaware that Total were no longer involved.
“Talks took place between Total and NIOC in Tehran last week,” Jashnsaz is reported by Mehr as saying.
However the deputy head of NIOC, Hojjatollah Ghanimifard, told Islamic Republic of Iran Broadcasting that “Total has been dismissed from investing in the project”.
In June 2009 Iran announced that China National Petroleum Corporation (CNPC) had been awarded the US$4.7 billion deal to develop phase 11.
Although Iran have the world’s second largest gas reserves the country has not been able to sign any major export deals due to the lack of infrastructure and expertise in the country’s hydrocarbons sector.
It is believed that as much as $40 billion is needed to develop the remaining phases of the South Pars gas field.Â
