TEHRAN – Oil Minister Bijan Namdar Zanganeh said Iran is not going to hand over the development of South Pars oil layer to Total easily since the French oil giant has taken over Danish Maersk's oil division with which Iran was negotiating the project.

Speaking to the press on the sidelines of an oil industry event in Tehran on Saturday, the oil minister said that Maersk has been merged with French Total, adding “the development of South Pars oil reserves is not readily available to Total”, Shana news agency reported. 

Danish conglomerate Maersk Group was in serious talks with National Iranian Oil Company (NOIC) for development of South Pars oil layer.

According to the Managing Director of Pars Oil and Gas Company (POGC), which is in charge of developing Iran’s giant South Pars gas field (shared with Qatar in the Persian Gulf), the two parts were expected to reach to an agreement in near future.

“The country’s second IPC-based deal will most probably be with Maersk for the development of South Pars oil layer,” Mohammad Meshkinfam said in December 2017.

EF/MA