French energy giant Total SA (TOT) hasn't withdrawn from Iran, the Oil Ministry's Shana news agency reported Tuesday, citing a senior National Iranian Oil Co. executive.
Seifollah Jashnsaz, managing director of the NIOC, said Total's Chief Executive Christophe de Margerie wrote in an official letter that the oil company doesn't intend to stop its commitments and "shut eyes" on Iran, Shana said.
" Iran and Total cooperation is at a good level and it is planned to involve the company in the development of phase 11 of (the) giant South Pars gas field," Jashnsaz said, according to Shana.
De Margerie stated in an interview last week that the company wouldn't enter any new energy deals with Iran because of the heightened political risk.
Total was slated to develop phase 11 of Iran's South Pars non-associated natural gas field for LNG production.
The move comes at a time when foreign firms have been under mounting pressure from the U.S. and a number of Western European countries not to do business in Iran because of concerns over the country's nuclear energy program.
According to Roya Farhang, head of public relations for Total's Tehran office, the oil major plans to continue working on its activities in Iran, and cited de Margerie as saying Total wouldn't abandon the project, Iran's state news agency IRNA reported Sunday.
Farhang quoted de Margerie as saying constructive talks are continuing with NIOC to arrive at an agreement for a revised plan for the LNG project, including the development of South Pars phase 11, so as to be ready to launch it as soon as conditions allow, IRNA reported.
" Iran is one of the most important countries for the world's energy market. Therefore, Total is interested in future projects concerning the development of (the) South Pars gas field and wants to maintain a long-term partnership with the NIOC," Farhang said, according to IRNA.