Iran Phase 11 of the South Pars Gas Agreement Terms Unchanged Yet

A senior official at the National Iranian Oil Company (NIOC) said no changes had been made in the terms of Irans multi-billion-dollar agreement with a French energy major Total-led consortium developing Phase 11 of the South Pars gas field.

“Members of the consortium in charge of developing Phase 11 of South Pars will accomplish their roles as set forth in the provisions of the agreement and no modifications have hitherto been made to the provisions of the contract,” Mohammad Mostafavi, NIOC director of business and investment, Shana reported.

He was reacting to speculation that China’s state-owned energy major CNPC had reportedly taken over the share held by Total.

“In case any changes are made to the provisions of the agreement, necessary notification will follow,” he said.