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Iran warns Total, Shell over gas deal

Press TV -- Iran warns Royal Dutch Shell and Total against inaction, calling on them to enter a contract if they seek to develop South Pars gas field.

"The deadline set for Shell and Total (to enter a contract on developing) phases 11 and 13 of South Pars (gas field) will not be extended; they are likely to be replaced by Asian corporations," said Ali Vakili, the managing director of Iran's Pars Oil and Gas Company.

"We have begun negotiations with several European and Asian firms. If Shell and Total do not act before the deadline, Asian firms will replace them," Vakili told reporters Monday.

In March, Iran's Oil Minister Gholam-Hossein Nozari gave an ultimatum to the European oil majors, allowing them to sign the development contract only by June.

South Pars is one the biggest gas fields in the world, which extends under Iran and Qatar. According to Iran's Pars Special Economic Energy Zone, the field contains nearly 48 percent of the country's confirmed reserves. Iran possesses the world's second-largest gas reserves after Russia.

... Payvand News - 04/14/08 ... --

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