Source: Press TV

The CEO of the Austrian Oil and Gas Group OMV AG has said that his company will not quit its project in Iran's South Pars gas field.

Wolfgang Ruttenstorfer noted that the negotiations are going on between Iranian and Austrian sides on development of the South Pars gas field.

OMV has recently been under pressure to cancel a multi-billion euro gas deal with the Islamic Republic of Iran, IRNA reported.

Under the deal, signed in April 2007, OMV would participate in the development of the gas field in the Persian Gulf.
Ruttenstorfer said that his company earned more than six billion euros in 2007.

He pointed out that the biggest rise in OMV's revenues were from gas projects.
 

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