(MENAFN- Kuwait News Agency (KUNA)) TEHRAN, Jan 13 (KUNA) -- Iranian Oil Minister Bijan Zangeneh said Saturday a contract with French oil giant Total to develop the 11th stage of South Pars gas field "is proceeding without delay." He was quoted by Fars news agency as saying all bids to develop the 11th stage of South Pars gas field have been completed with the exception of drilling tenders.
Iran's national oil company signed last July a USD 4.879 billion contract with a consortium led by Total to develop the 11th stage of South Pars, which was jointly owned by Iran and Qatar.
Total has 51.1 percent of the contact. Chinese companies in the consotrium have 30 percent stake while Iran's Petropars has 19.9 percent.
Total had announced it would reconsider the project if the US decided to impose new sanctions on Iran. (end) fz.bs
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