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Total has 60 days to decide on its stay in South Pars project

Staff Writer | May 31, 2018
Tehran has set a two-month deadline for French oil and gas company Total to hold talks with the U.S. on whether it can stay in Iran or not, the Iranian petroleum minister announced.
Total South Pars
Oil exploration   CNPC could take the place Total had
If Total decides to leave the Phase 11 of development project on Iran's supergiant South Pars gas field, the country will substitute China's CNPC for the French company, Bijan Zangeneh said.

About his Tuesday's presence in Majlis (Parliament) to review the current situation, Zangeneh said Petroleum Ministry and the Majlis Energy Commission share the same point of view about how to cooperate to overcome the present difficult condition.

After U.S. unilateral exit from the July 2015 nuclear deal between Iran and the six world powers - U.S., UK, France, Russia, China and Germany - Washington put restrictions on several world companies and banned them from cooperating with Tehran.

Many world powers, including Russia, China, and the European Union (EU) are against US withdrawal.

According to Zangeneh, he briefed the parliamentarians on the ways of selling Iran's oil and the new customers for the country's oil after US withdrawal from the Iran Deal on May 8.