Total says satisfied for being very first Western oil company to perform Iran deal: CNN Income

The boss of French oil and fuel corporation Total stated on Monday that it might be delighted to become the very first Western oil enterprise to reach an agreement with Iran, but he said a deal had not however been signed.

"Discussions are going on and we'll see if we are able to indicator within the coming days," Patrick Pouyanne told CNN Dollars about the sidelines of an Abu Dhabi petroleum conference.

Asked about the estimated $6 billion worth in the prospective deal, Pouyanne stated: "...creating a phase of South Pars (fuel field) is a lot more while in the range of $2 billion bucks than $6 billion."

Iran's SHANA information company mentioned on Monday that Complete and China Nationwide Petroleum Corp (CNPC) would signal new contracts on Tuesday with Nationwide Iranian Oil Company (NIOC) to the second phase of the South Pars gasoline discipline.

Total has had a earlier involvement in South Pars, one of many largest all-natural gas deposits within the globe, which is situated during the middle on the Persian Gulf. In 1997, Iranian authorities awarded the improvement of phases two & 3 of the area to a Complete subsidiary.

"We developed some phases of South Pars from the past," Pouyanne informed CNN Dollars. "We were about the verge of sanctioning a project in 2010 just before the sanctions," he stated, referring to sanctions imposed on Iran over its nuclear programme.

"Naturally we have engaged discussions with Iran on this topic. So, let see if we are able to conclude a satisfactory deal for all the parties," Pouyanne stated, adding that he would not be travelling to Tehran himself.