Iran, French Total to hold meeting within days

The meeting aims at discussing Total cooperation in developing South Pars oil and gas field phase 11, Head of PIEMA Reza Khayamian told Islamic Republic News Agency (IRNA) on Saturday.

This is the first time that Iranian Petroleum Ministry has invited domestic manufacturers in negotiations with Total Company, Khayamian said.

During the meeting, Total is to present its needs in implementation of South Pars phase 11, he added.

National Iranian Oil Company (NIOC), Total, CNPC and Petropars on July 3, signed a 4.8-billion-dollar contract for development of South Pars Gas Field phase 11.

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

Phase 11 project has two platforms with a capacity of 28 million cubic meters per day, Total's quota is 50.1% and CNPC and Petropars have 30% and 19.9%, respectively.

Translator: Ali Izadi

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