French major Total on 20 August confirmed its withdrawal from a $4.8bn 20-year deal to develop the 2bn cfd Phase 11 of Iran’s South Pars gas field (MEES, 7 June 2017), saying it was unable to secure a waiver from US sanctions (MEES, 10 August). Total, as operator with 50.1%, said in May it had spent only $40mn on the project thus far. Though widely expected, the exit deals a symbolic blow to Iran, which had hoped Total’s entry would lead to further deals with western majors and...
Total Exits Iran’s South Pars
Published on Fri, 24 Aug 2018 - Volume: 61 Issue: 34Print
Please log in to read the rest of this story.
You may purchase access to entire MEES digital archives by subscribing. This subscription gives you access to all the content of MEES digital archives up to 1978!