Tag Archives | Petropars

MAPNA Ready to Replace Total in South Pars

Iranian holding company MAPNA Group voiced readiness to take over a project on development of the country’s South Pars gas field as French company Total has backed out of its contract with Iran for fear of the US sanctions. In an interview with Tasnim, CEO of MAPNA Abbas Aliabadi said his holding is prepared to […]

$6bn Oil Projects for Domestic Contractors

A senior Iranian oil official said the country was planning to entrust 6 billion dollars’ worth of enhanced oil recovery and production sustainability projects to domestic companies. Gholamreza Manouchehri, deputy CEO of the National Iranian Oil Company (NIOC) for Engineering and Development Affairs, said once NIOC’s 34 working packages valued at $6 billion become operational, […]

Total Finalizes Tenders for SP11 Development

France’s energy giant Total has carried out tendering for subcontracts and other preparatory work at its South Pars Phase 11 project in Iran, the CEO of Pars Oil and Gas Company (POGC) said. Speaking to Shana, Mohammad Meshkinfam announced that the value of the tenders held by the French major surmounts €700 million. “Most of […]

Total’s Gas Deal Going Ahead

Iranian Minister of Petroleum Bijan Zangeneh said the National Iranian Oil Company (NIOC)‘s gas deal with French energy giant Total is being executed on schedule and all the project’s tenders, excluding one for drilling operations, have been held. The official said all the contractors, except for one, who have signed in the tenders are domestic […]

CNPC may take over South Pars if Total Pulls Out

The China National Petroleum Company (CNPC) plans to take over Total’s stake in Iran’s South Pars gas field if the French energy giant fails to stick to its contract with Tehran due to new US sanctions, a report said. CNPC officials have held internal talks in recent weeks to discuss the implications of taking control, […]

Total “Cannot Withdraw Capital” from Iran Gas Deal

Iranian Minister of Petroleum Bijan Zangeneh says Total S.A.‘s capital in a contract with Tehran to develop Phase 11 of the South Pars Gas Field will stay in Iran in case the French energy major walks away from the deal without any UNSC sanctions. The official said: “If Total walks away from the deal without […]

Iran, India “Probably Part Ways” on Farzad B

Iran has started preliminary talks with Russians to develop Farzad B but negotiations also carry on with the Indians who have long coveted the giant gas field, Iranian Oil Ministry stated. “For the development of the Farzad B field, we are pursuing three separate paths in parallel, but none of the options is definite yet,” […]

NIOC Inks MoU with Toyo, Petropars

The National Iranian Oil Company (NIOC) has signed a memorandum of understanding (MoU) with a consortium comprising Japan’s engineering major Toyo and Petropars Company for rehabilitation of facilities and upgrading of gas production of Salman Oilfield. Signed on Monday, the document was inked by Gholamreza Manouchehri, deputy for development and engineering at NIOC, Hamid Akbari, […]

Talks with 27 Foreign Firms over Major Oil Projects

Iranian Deputy Oil Minister for International Affairs Amir Hossein Zamaninia said Tehran is in negotiations with 27 foreign companies over oil projects worth $200 billion. “I can assure you this (gas deal with Total) isn’t the last one,” Zamaninia told CNNMoney on the sidelines of an oil conference in Istanbul, Turkey, on Tuesday referring to […]

Oil Minister defends Total Gas Deal in Parliament

Iranian Oil Minister Bijan Namdar Zanganeh in an open session of the parliament briefed the lawmakers on a controversial $5 billion gas deal recently signed with France’s energy giant Total, saying the agreement would serve the Islamic Republic’s interests. Addressing the open session of the parliament on Wednesday, Zanganeh defended the deal with Total to […]

Total and NIOC sign South Pars Development Contract

French oil major Total and the National Iranian Oil Company (NIOC) have signed a contract for the development and production of phase 11 of South Pars (SP11), the world’s largest gas field. The project will have a production capacity of 2 billion cubic feet per day or 400,000 barrels of oil equivalent per day including […]

LNG Exports to EU – Iran courts Total

Iran’s petroleum minister has hinted that the country is looking into the possibility of bringing in the French energy giant Total to develop a key project to liquefy natural gas for exports to Europe. Bijan Zanganeh told reporters that serious talks with Total were underway over the development of Phase 11 of Iran’s South Pars […]

Total seeks $4bn Stake in South Pars Gas Gield

Total is seeking a 50 percent stake in a $4 billion project in Iran’s giant South Pars gas field, the French energy firm said in a regulatory filing detailing talks held with Iranian officials on several projects in 2016. Total signed a preliminary deal for the South Pars project last year, becoming the first Western […]

Total says Iran Investment Depends on Renewal of US Waivers

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 […]

Total Oil Deal: Other Oil Majors to return to Iran?

By Maysam Bizaer, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Will Total deal pave way for other oil majors’ return to Iran? French energy giant Total SA is back in Iran, six years after it was forced to halt its operations due to nuclear-related […]

Italy’s Eni Eying Iran Investments

Italy’s oil giant Eni says it has serious plans to return to Iran’s oil industry in a yet another indication of the growing interest of global energy corporations to approach the country’s post-sanctions business opportunities. Eni CEO Claudio Descalzi told Reuters that his company would start working again in Iran when it has been repaid investments […]

Will Iran attract Int’l Oil Firms in Post-Sanctions Era?

By Bijan Khajehpour, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The signing of a heads of agreement (HOA) between Paris-based Total SA, China National Petroleum Corp. (CNPC) and Iran’s Petropars on the development of phase 11 of the South Pars gas field is an […]

Iran Eying More Oil Contracts after Total Deal

Iran is hoping to secure more overseas investment after a consortium led by France’s Total on Tuesday signed a $4.8bn deal to develop part of the giant South Pars gasfield, Irans deputy oil minister for international affairs said. Speaking to the Financial Times, Amir Hossein Zamaninia stated: “This is an icebreaker and we shall see […]

Total Signs $4.8bn Gas Deal with Iran

By John Lee. French oil giant Total has signed a Heads of Agreement (HoA) with the National Iranian Oil Company (NIOC) for the development of phase 11 of South Pars, the world’s largest gas field. The company becomes the first western energy firm to sign a major deal with Tehran since the lifting of international […]

Iran closer to rolling out new oil project contracts

By Alireza Ramezani, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Dispute remains ongoing over whether parliamentary approval is required for the Iran Petroleum Contract (IPC), a new oil and gas contract model rolled out by the government for upstream projects. Conservative lawmakers want to […]