French major Total has officially withdrawn from Phase 11 of Iran’s South Pars gas project, the Tasnim news agency reported Iranian Oil Minister Bijan Zanganeh as saying on Monday.
Tehran is working to replace Total with Iranian companies, Zanganeh said. Total has confirmed it has notified the Iranian authorities of its withdrawal from South Pars.
Iranian holding company MAPNA Group said last month that it was ready to take over Total’s 50.1% interest in the project. China National Petroleum Corp. has the...
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