TEHRAN, Young Journalists Club (YJC) - Total became the first western oil major to sign an agreement with Iran to develop Phase 11 of Iran’s South Pars—the world’s largest gas field.
He made the remarks after Total CEO Patrick Pouyanne claimed that the company would review the deal in case the US decides to impose sanctions on Iran.
“Given this contract and other oil contracts designed under IPC, the required guarantees are received from investment companies.”
Total’s conditions should be based on the IPC. “Total should pay compensation based on the new model of oil agreements in case it wants to annul the deal.”
He then assured that Total would not withdraw from the agreement.