NIOC, Total planning new, diverse cooperation

TEHRAN Sept. 21 (Shana) – Managing Director of the National Iranian Oil Company (NIOC) Rokneddin Javadi and Total’s President of Exploration and Production Arnaud Breuillac have expressed determination of their companies to expand their cooperation in areas of mutual interest.

“NIOC welcomes cooperation with Total and the French company’s interest in Iran’s new oil contracts,” Javadi told Shana after a meeting here with Breuillac.

“With introduction of new contracts, there would be fresh opportunities in exploration, development, production, and enhanced output projects for foreign firms,” he added.

The executive of the France’s energy giant in the meeting on Sunday said Total is expecting unveiling of the new contracts so that it can plan for investment and cooperation with Iran based on its expertise and capacities.

“Total wants to resume cooperation with Iran’s oil industry,” Breuillac said in the meeting.

Last Friday, Javadi announced that Iran will introduce its new oil contracts in early November in Tehran.

“The first phase of contracts will be unveiled in November in Tehran and a follow-up conference will be held in one or two months in London,” he told reporters.

“New contracts with foreign companies will be signed in the IPC (Iran Petroleum Contract) framework which I think will be more attractive,” Petroleum Minister Bijan Zangeneh said in August.

“More than cash or using the technology, we would like to have their advanced technology to be transferred to domestic companies,” he stressed in a televised program in early September.

In the wake of nuclear deal on July 24, Iran has hosted high-ranking officials and corporate executives of major companies from Germany, Spain, Austria, Italy, and France to discuss new cooperation ventures.

“The French firm is interested in buying crude oil from Iran,” Chairman of the Oil Contracts Committee at the ministry Mehdi Hosseini said following the meeting between Zangeneh and Breuillac on Sunday.

Drafting the cooperation roadmap between Iran and Total depends on lifting of sanctions, Hosseini added.

Headed by the agriculture minister and state minister for foreign commerce, a 160-member delegation comprising of French businessmen and corporate representatives including Total and Technip is due in Tehran on Monday to seek trade opportunities with Iran.

French Foreign Minister Laurent Fabius traveled to Tehran only few days after a nuclear deal was reached between Iran and P5+1 group of world powers in Vienna on July 24.