French oil major Total is committed to the development of an Iranian gasfield and will apply for a waiver if US President Donald Trump unilaterally withdraws from the 2015 Iran nuclear deal and re-imposes sanctions on Tehran, the company’s chief executive said. “If the US decides to put back the sanctions, we have to look […]
French oil major Total is committed to the development of an Iranian gasfield and will apply for a waiver if US President Donald Trump unilaterally withdraws from the 2015 Iran nuclear deal and re-imposes sanctions on Tehran, the company’s chief executive said.
“If the US decides to put back the sanctions, we have to look at what the consequences are…and then we will see, either Donald Trump decides to maintain the waivers and we will move on with the project,” Patrick Pouyanne was quoted as saying by ‘The National’ on Sunday March 18, 2018. “If the US decides not to sign the waiver, then what will be our position, it’s quite simple – as the project has been awarded prior to that decision during the period of time that we could sign … we will argue that we should benefit from the grandfather clause and we will ask for a waiver from the US authorities.”
According to ‘The National’, in July last year, Total became the first Western energy company to sign a deal with Iran when it agreed as part of a 20-year contract to develop phase 11 of the country’s South Pars field, the world’s largest gasfield that is shared with Qatar. The project will have a production capacity of 2 billion cubic feet per day or 400,000 barrels of oil equivalent per day including condensate.
