|  | 

Foreign Affairs

Zangeneh: July 3 deal with Total is JCPOA, election outcome

Addressing an audience after signing a deal for development of phase 11 of South Pars with Chinese CNPC, Iranian Petropars and French Total, Zangeneh hoped that the contract will pave the way for conclusion of other contracts and presence of foreign companies in Iran.

We consider no restriction for presence of American companies in Iran; rather, the obstacle for their business has been created by the US government.

The minister said, In May 19 election, people strongly supported the move by the 11th government.

A long way was passed to sign the deal; but from now on, we will continue our way with joy and haste.

Today, a contract worth about five billion dollars was signed. We will never forget Total's pioneering role in cooperation with Iran.

As for cooperation with the Chinese party, he said, We will never forget our friends at difficult times; Chinese companies are strategic partners.

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 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.

Source: Islamic Republic News Agency � IRNA

The iran News Gazette is mainly concerned with news and information about the Arab region and also covers international issues. Its main objective is to provide reliable and verified information on the Arab region for publishing on the digital landscape.