Iran’s oil minister said that the first of its new contracts would be finalized with Total within two months, according to the Mehr News agency.
Bijan Zanganeh said that a contract was still being pursued with Total but noted recent comments from the CEO of the French company indicated it was awaiting feedback from the U.S.
“From the information I have the policy of the European Union is not subordinate to the United States," Zanganeh told Mehr News. “We will take the necessary steps to go ahead with the contract, but we also have a complaint as to why these things are being said.”
Total plans to make a final investment decision on a $2 billion gas project in Iran by the summer, but the decision hinges on the renewal of U.S. sanctions waivers, CEO Patrick Pouyanne said earlier this month.
Total was the first Western energy company to sign a major deal with Tehran since the lifting of international sanctions against Iran. Its project aims to develop South Pars 11, which is part of the world’s largest gas field.
Zanganeh said that there has been no decision to stop the signing of new contracts but that some contracts have not been finalized because it is a time consuming process.
Recommended Reading
Magnolia Oil and Gas Announces 15% Increase to Quarterly Dividend
2023-02-01 - Magnolia Oil and Gas Corp.’s shareholder distribution increase reflects the company’s efforts to maximize shareholder returns.
Women in Energy: Heetal Patel, Exxon Mobil
2023-02-01 - Today’s featured 25 Influential Women in Energy honoree is Heetal Patel, senior project manager at Exxon Mobil Corp.
Mexico's Pemex Places $2 Billion Bond to Refinance Debt
2023-02-01 - Pemex's $2 billion bond has a 10-year maturity and was part of a move by the heavily indebted firm to secure financing during the first quarter.
Exxon Mobil Reports Solid Results, Eyes Permian and Guyana Growth
2023-02-01 - U.S. oil giant Exxon Mobil Corp. reported earnings of $55.7 billion in 2022 and looks to continue growing production in the Permian and Guyana over the near-term.
Exclusive Q&A: Strides in ESG, Innovative Technology [WATCH]
2023-02-01 - Kathryn Roark, vice president of diversity and ESG for Patterson UTI, discussed the improvements in ESG that the oil and gas industry has seen – and how it can be even better in the future.