Iranian Oil Minister Bijan Namdar Zangeneh says France’s energy giant Total, as well as French petrochemical firms have expressed willingness to come back to the Iranian market.
In a meeting with visiting French Foreign Minister Laurent Fabius in Tehran, Zangeneh said a new chapter will be opened in cooperation with Total to develop Iranian oilfields.
“Total has participated for more than 20 years in Iran’s oil projects. Meanwhile, French petrochemical companies have long been invested in the Iranian market. They are planned to boost their presence and finance Iranian petrochemical projects,” Zangeneh said.
French companies will cooperate with Iranian partners on economizing energy consumption, LNG production, and equipment procurement projects, he added.
The French minister, for his part, said that he held constructive and positive negotiations with Iranian officials in the field of energy.
Earlier this month, Total’s chief executive Patrick Pouyanné said the company seeks oil and natural gas projects in Iran.
He added that his company seeks liquefied natural gas (LNG) and oil projects in Iran. “We are looking at both gas and oil. When we had to leave Iran in 2006, we were actively working at an LNG project at South Pars (field) [in southern Iran]. So, first of all, we are closely looking at LNG projects.”
The French employers’ federation, MEDEF, is due to visit Iran in September to try to kickstart ties.
Some 107 representatives from the body travelled to Iran early last year, triggering anger in the U.S. which said it was still too early to do business with Tehran.