PARIS (Dow Jones)--French oil major Total SA (TOT) wants to continue existing projects in Iran but can't take the risk right now, amid the threat of further sanctions, of investing "massively" in the country, Chief Executive Christophe de Margerie confirms in an interview published Tuesday in Le Figaro.
Total wants to remain in existing projects in Iran, de Margerie tells Le Figaro, mentioning the redevelopment of the Dorood oil field on the island of Kharg and a lubricants project in Saveh.
But no contract is ready for Total to sign relating to the large South Pars liquefied natural gas project, the paper quotes de Margerie as saying. "Don't believe that business is easy with the Iranians at the moment," he says in the interview.
De Margerie already has said the time isn't right to invest in South Pars LNG.
In neighboring Iraq, meanwhile, Total is in discussions with the oil ministry to see how it can return to the country in a "durable" way, de Margerie says in the Le Figaro interview.
The overall investment for the Kashagan oil project in Kazakhstan will approach $100 billion, the paper also quotes de Margerie as saying. Total is part of a consortium developing Kashagan.