Velayati stresses importance of Iran-Total agreement

“Signing an agreement between Iran’s oil ministry and Total Company greatly influences the broadening of Iran-France ties,” Velayati told reporters after his meeting with Director General of France’s Europe and Foreign Affairs Ministry Christian Massey.

He said that the Islamic Republic of Iran endorses the expansion of relations with France in political, economic and international fields.

National Iranian Oil Company (NIOC), Total, CNPC and Petropars on Monday, July 3, signed a $ 4.8bn contract for development of South Pars gas field phase 11.

Total will operate the SP11 project with a 50.1% interest, while Iranian Petropars company will have a share of 19.9% and the Chinese CNPC 30%.

The contract was signed by the NIOC Chief Ali Kardor, Petropars Head Hamid Akbari, Total’s Pouyanne and CNPC CEO in the presence of Iran’s Minister of Petroleum Bijan Zangeneh and the French and Chinese ambassadors to Tehran as well as parliamentary Energy Committee members and senior petroleum ministry officials.

2050**2050