Royal Dutch Shell Plc  .com Rotating Header Image Iran: No deadline extension for Shell

Tue, 01 Jan 2008 22:19:40 
An Iranian official says Tehran will not extend the June 2008 deadline for Royal Dutch Shell to sign a major gas deal with the country.

Ali Vakili, the Managing Director of Iran’s Pars Oil & Gas Company, said the Anglo-Dutch company has not officially called for an extension of deadline to decide whether to invest in two phases of Iran’s South Pars gas field.

“Iran will not agree to extend the deadline once it expires,” he warned.

Shell, Europe’s largest oil and gas company, teamed up with Spain’s Repsol to sign a preliminary deal with Tehran to invest $10 billion to develop phases 13 and 14 of the South Pars project.

However, Shell is reportedly hesitant to finalize the deal with Iran over concerns about US pressures.

Tehran has called on all companies interested in investing in the country’s energy sector to submit their proposals by June.

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