Total CEO:

Total seeks long-term coop. with Iran

TEHRAN (defapress) – Total plans to boost long-term cooperation with Iran in the fields of gas, oil and petrochemicals, the French energy giant CEO Patrick Pouyanne said in a meeting with Pres. Rouhani in Tehran on Monday.

News ID: 65255

Date: 04 July 2017 - 11:38

the meeting followed the signing ceremony of a development deal with France’s Total for investment in Phase 11 of South Pars – the world's largest gas field – as envisaged in the new model of oil contracts, dubbed as the Iran Petroleum Contract (IPC).

Pouyanne deemed the contract of high importance to Total, expressing hope that its implementation would open doors to the presence of other European companies in Iran.

He also hailed the Iran’s nuclear deal for having created ample opportunities for developing Iran-EU relations, saying Total is optimistic about its cooperation with Iranian firms.

For his part, Iranian President Hassan Rouhani maintained that the multi-billion-dollar gas deal signed with Total would facilitate the transfer of technological, scientific and managerial experience between the two countries.

President Rouhani noted that the implementation of Iran’s nuclear deal has prepared the ground for economic cooperation with major foreign companies, adding "fortunately, the existence of political will on the Iranian side and among the 5+1 countries led to the agreement with Total.”

"Our policy is to have cooperation with big companies such as Total,” the president stressed.

Rouhani also invited big foreign companies to invest in projects in Iran’s oil and gas sectors valued at around $200 billion.

"We must make efforts toward economic growth of the Middle East to establish peace and stability in the region,” he concluded.