Baku, Azerbaijan, Sept. 21
By Umid Niayesh - Trend:
The French energy giant Total is preparing to cooperate with Iran in oil exploration and production as well as LNG and the petrochemical sector, Mehdi Hosseini, head of Iran Oil Ministry's Contracts Revision Committee said.
The parties will prepare a roadmap for cooperation in the post-sanctions period, Hosseini said, the oil ministry's official SHANA news agency reported Sept. 21.
He made the remarks while commenting on the issues discussed during the meeting of Arnaud Breuillac, Exploration and Production president at Total with Iran 's Oil Minister, Bijan Namdar Zanganeh.
Hosseini further said that Total is willing to buy crude oil from Iran. The company also expressed readiness for presence in Iran 's LNG sector and marketing for Iran 's liquefied natural gas, the Iranian official noted.
Developing Iran 's oil fields, in particular the joint fields as well as increasing Iranian fields' recovery rate were also discussed in the meeting.
Iran's oil minister earlier said that Total enjoys more than 20 years of presence in developing Iran 's oil projects and a new chapter is expected to open in the company's activities in Iran 's oil fields.
French petrochemical companies will finance projects in Iran 's petrochemical sector as was the case before the sanctions, he said, adding that French firms have long been active in Iran in the sector.
It should be noted that a senior French economic and political delegation heads to Tehran on Sept. 21 to lay the groundwork for the first business contracts between France and Iran since the nuclear accord to curb its nuclear program in July.
France's main business lobby group, the Medef, is sending a delegation comprising more than 100 firms to Iran, including companies such as oil major Total, planemaker Airbus, and car manufacturer Peugeot.
Edited by CN
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