June is the final deadline for Total and Shell.
PressTV Iran: Total, Shell may miss Iran deadline
Sat, 19 Apr 2008 11:55:43
Royal Dutch Shell and Total say they may miss the June deadline set by Iran to agree on developing the country’s South Pars gas-field.
Shell says there are possibilities the energy group’s technical studies for developing the phase 13 of the giant South Pars gas-field will not be completed by June.
“There is a lot of work to respond to the challenging contracting market and to make sure that we have structured the design in the right way,” Malcolm Brinded, Shell’s head of exploration and production, said.
“That is going to take us longer,” Middle East Business Intelligence quoted Brinded as saying.
Also, one senior executive from France’s Total claimed, “We have to recognize that it would be inappropriate to commit billions of dollars of investment today until Iran joins the international community.”
“We keep things warm in the oven but at the same time there is no possibility of huge investments as things stand,” Middle East Business Intelligence quoted the unnamed executive as saying.
Total is mulling about developing Iran’s first liquefied natural gas (LNG) project, which would be fed by phase 11 of the South Pars gas-field.
“This is the first LNG project in Iran so you can imagine how even more complex it is,” the executive added. “The technical and contractual side requires time but, taking into account the situation today, we cannot make these huge investments.”
On April 15, Ali Vakili, the managing director of Iran’s Pars Oil and Gas Company warned the energy majors to enter a contract if they seek to develop the South Pars gas-field; otherwise they were likely to be replaced by Asian corporations.
In March, Iran’s Oil Minister, Gholam-Hossein Nozari, gave an ultimatum to the oil giants, allowing them to sign the development contract only by June 19.
MK/GM
http://www.presstv.ir/detail.aspx?id=52226§ionid=351020103
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