Iran sets deadline for Total, Shell

TEHRAN, April 17 (UPI) -- Iran has set a June 20 deadline for Total and Royal Dutch Shell to decide if they will take part in Phase 11 of the South Pars development project.

The official Islamic Republic News Agency reported that Oil Minister Gholam-Hossein Nozari said Total made public statements declaring it won't invest in Iran's oil industry. He said he takes that as a refusal to work on the South Pars Phase 11, though Total submitted a proposal to cooperate in running the project along with Phase 12.

"We have instructed Pars Oil and Gas Company to put on tender the remaining sections of the contract for the development of South Pars," he said. "We have no financial problem in completing the job."

Nozari said he believes Iranian contractors can finish the job though Total and Royal Dutch Shell among other international oil companies have made large investments in developing Phases 12 and 13 of South Pars gas field.