Exploration & Production

Total to exit South Pars without Iran sanctions waiver

Total has confirmed it will exit Iran’s South Pars project if it cannot secure a waiver from sanctions imposed on Tehran by the United States.
By Staff reporter 17 May 2018 0 30899

Total has confirmed it will exit Iran’s South Pars project if it cannot secure a waiver from sanctions imposed on Tehran by the United States.

“Total will not continue the [South Pars Phase 11] project and will have to unwind all related operations before 4 November 2018, unless Total is granted a specific project waiver by US authorities with the support of the French and European authorities,” the French major said on Wednesday.

Iranian oil officials have said...