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Total withdraws from Iran South Pars due to Iran nuclear deal fallout

Total said it could not continue with the Iran South Pars 11 (SP11) project, in light of a decision by US Trump to withdraw from an international nuclear deal with Iran.


Reuters 16 May 2018, 02:11 PM Iran Islamic Rep.
  • Total will not continue the SP11 project and will have to unwind all related operations before 4 November 2018. (Image Credit: Reuters)

French oil and energy company Total said on Wednesday it could not continue with the Iran South Pars 11 (SP11) project, in light of a decision by US President Donald Trump to withdraw from an international nuclear deal with Iran.

"On 8 May 2018, President Donald Trump announced the United States' decision to withdraw from the JCPOA (nuclear agreement) and to reinstate the US sanctions that were in force before the JCPOA's implementation, subject to certain wind down periods," Total said in a statement.

It added that as a consequence, Total will not continue the SP11 project and will have to unwind all related operations before 4 November 2018, unless Total is granted a specific project waiver by US authorities with the support of the French and European authorities.

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