- Total (TOT +0.6%) is in a strong position to take a lead role in helping Qatar expand production from the South Pars gas field - the world's largest - largely because of its involvement in the Iranian side of the shared deposit, Reuters reports, citing sources familiar with the government's thinking.
- TOT's signing last week to develop the South Pars field, as Iran's part of the shared reserves are known, makes the company the first oil major to return to Iran since the easing of western sanctions and places it ahead of rivals such as Exxon Mobil (NYSE:XOM) and Royal Dutch Shell (LON:RDSa) (RDS.A, RDS.B) in the early running for developing the expansion.
- TOT CEO Patrick Pouyanne tells Reuters: "Of course, I won't go to the same field in Iran without telling Qatar... The Iranian block where we are supposed to produce is next to the border with Qatar. When I traveled to Doha I discussed it with the [Qatari] authorities and they told us: 'It is OK, we know you'."
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