Iran warns of expelling foreign firms for delay in gas exploration
Monday, 10 May 2010
TEHRAN, May 9 (AFP): Oil Minister Masoud Mirkazemi threatened yesterday that Iran would kick out foreign firms for delaying the development of its massive South Pars gas field and replace them with domestic companies.
Mirkazemi did not name any foreign company, but his threat comes just days after Iran's elite Revolutionary Guards Corps boasted that it could take over projects from Western firms such as Total and Shell in South Pars.
"We have recently told some foreign firms which have delayed (development of) some phases (in South Pars) for several years, that we would not negotiate with them and domestic firms will be given these projects to implement," Mirkazemi was quoted as saying by Mehr news agency.
Several foreign companies have stopped making new investments in Iran's energy sector amid Western pressure for new sanctions against Tehran because it continues to pursue its controversial nuclear programme.
Iran is OPEC's second largest crude oil exporter and also holds one of the largest gas reserves in the world. It has planned a massive 200-billion-dollar investment in the energy sector over a five-year period to 2015.
Mirkazemi did not name any foreign company, but his threat comes just days after Iran's elite Revolutionary Guards Corps boasted that it could take over projects from Western firms such as Total and Shell in South Pars.
"We have recently told some foreign firms which have delayed (development of) some phases (in South Pars) for several years, that we would not negotiate with them and domestic firms will be given these projects to implement," Mirkazemi was quoted as saying by Mehr news agency.
Several foreign companies have stopped making new investments in Iran's energy sector amid Western pressure for new sanctions against Tehran because it continues to pursue its controversial nuclear programme.
Iran is OPEC's second largest crude oil exporter and also holds one of the largest gas reserves in the world. It has planned a massive 200-billion-dollar investment in the energy sector over a five-year period to 2015.