Total affirms support for Iran deal
Iran
WASHINGTON, D.C., October 4, 2017 – Total’s CEO on Tuesday reaffirmed the company’s commitment to its recent USD 4.8-billion gasfield development deal in Iran, in the face of mounting threats against the nuclear deal from US President Donald Trump.
“We knew when we signed that it will not be an easy road. But I prefer to have a problem to solve and to have the opportunity rather than having not signed [and] no opportunities,” Patrick Pouyanne said, speaking to the Financial Times on a visit to Washington, D.C.
US officials have marked October as a period for the Trump administration to review its policy towards Iran, and the president has repeatedly criticised the 2015 nuclear deal. His government, however, has formally recognised Iran’s compliance with the deal twice, in April and July.
In July, Total, leading a consortium with China National Petroleum Corporation and Petropars, signed a contract to develop South Pars phase 11. Total will operate the project with a stake of 50.1% while CNPC and Petropars will have 30% and 19.9% shares, respectively.
For an insider’s perspective on the USD 4.8-billion deal, read TOGY’s exclusive interview with Hamid Akbary of Petropars.
More content from Iran
Latest news and features
