Phase 11 deal marks first big return for IOCs in Iran

The agreement is a major development for Iran’s gas sector and should allow it to maximise output from the last undeveloped South Pars field
By James Gavin 4 July 2017
Zanganeh (left) shakes hands with Pouyanne before signing the Phase 11 deal. (PA)

The signing of the South Pars Phase 11 development contract represents a significant breakthrough in Tehran’s efforts to tap foreign expertise to develop its most difficult gas reserves. 

The deal – signed with France’s Total, China National Petroleum Corp. and local Iranian company Petropars – has faced persistent criticism and delays in Iran. However, FG Energy analyst Siamak Adibi described it as a “very important political achievement for the government”. The arrangement of an official meeting between Total Chief Executive Patrick Pouyanné and Iranian President Hassan...

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