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BEIJING, June 5 (UPI) -- The National Iranian Oil Co. is set to sign developmental deals for a phase of the South Pars gas field in a move to replace the French Total, officials say.
Seifollah Jashnsaz, the NIOC chief, leads a delegation to Beijing to discuss development of Phase 11 at South Pars, the Petroenergy Information Network in Iran reports.
The PIN report says Total reached a memorandum of understanding with NIOC to develop phase 11, but the Iranian company was forced to find alternative partners because of delays from the French energy giant.
Jashnsaz said in March his company was not satisfied with Total's performance but hoped for new arrangements.
Total, under pressure from Washington, has made no progress on developing Phase 11 of South Pars despite positive work on Phases 2 and 3, the director said.
He added Total had asked Iran to find another partner to develop Phase 11 because of economic sanctions imposed on Iran because of its controversial nuclear program.
Iran in February bragged that Total would sign a $5 billion contract near the end of March to develop South Pars.
The reserves in the offshore South Pars field are estimated at 450 trillion cubic feet of natural gas, or about 47 percent of the total gas reserves in Iran.
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