By John Lee.
French oil major Total plans to make a final investment decision on its $2-billion Iranian gas project by the summer, according to reports from Reuters and PressTV.
But Chief Executive Patrick Pouyanne (pictured) told journalists that the decision hinges on the renewal of U.S. sanctions waivers, which are due to be renewed before summer.
Total, the China National Petroleum Corporation (CNPC) and Petropars signed a Heads of Agreement (HOA) with the National Iranian Oil Company (NIOC) in November to invest in Phase 11 of South Pars.
(Sources: Reuters, PressTV)