For full coverage of Middle East business, see MEED
Total has six months to submit its technical bid for the development of the South Azadegan oil field which could still be awarded to other international firms, Iran’s deputy oil minister Roknodin Javadi was reported as saying today.
“So far, a preliminary memorandum of understanding (MoU) has been sealed with Total Company over the expansion of South Azadegan oil field though it is not (a) final contract and the project has not been assigned to the French company yet,” Javadi was reported as saying by the Mehr News Agency.
Javadi said that Total is required to present its technical bid in six months’ time.
Several European and Asian firms are also interested in developing the field, Javadi said.
“…the inking of an MoU would not give Total of France a higher priority for carrying out the project,” he added.
Javadi said that South Azadegan’s first phase is being implemented by 18 Iranian drilling rigs. Talks with European and Asian companies are mainly about the field’s first phase.The National Iranian Oil Company (NIOC) is the client.
Investment in the second phase is estimated at under $5bn.