French company Total cconsiders investment prospects in Iran

Feb. 14, 2014 at 5:45 AM
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LONDON, Feb. 14 (UPI) -- French energy company Total is mulling investment prospects in Iran's energy sector, Chief Executive Officer Christophe de Margerie said.

"If the terms are attractive, yes [we'd invest in Iran,]" he was quoted by the Platts energy news website as saying Thursday.

Iranian Oil Minister Bijan Zanganeh has said Total is among the major international energy companies that may be considering a return to Iran now that an interim nuclear deal has brought some relief from sanctions.

Iranian oficials say the sanctions relief mean it's time to start investing again.

Some of the sanctions targeting Iran's energy sector remain in place and de Margerie said his company would respect the rule of law.

"We will not sign or negotiate anything until the embargo is lifted," he said.

Representatives from Total were among the delegates who visited Tehran in early February as part of a French trade mission.

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