Today.Az » World news » Total eyes more investment in Iran
12 February 2010 [13:52] - Today.Az
The chief executive of French oil giant Total has highlighted Iran's key role in the world natural gas market, saying that the company is determined to keep investing in Iran.
"The balance of supply and demand in the world, notably for gas, depends also on Iran," Christophe de Margerie said.
Margerie noted that Total plans to invest EUR 13 billion this year and added that it has its eye on Iran's gas reserves, despite sanctions and international pressure on the Islamic republic over its nuclear activities.
"We would like to go there but we cannot. Total is actively attentive (to Iran), it is normal to maintain relations there which will allow us, when the time comes, to sign contracts," he added.
Total's interest in Iran's gas sphere comes as the group has posted a 44-percent year-on-year drop in profits due to falling prices.
The group reported profit of EUR 7.8 billion (USD 10.9 billion) in 2009, down from EUR 17.72 billion (USD 24.16 billion) in 2008.
/Press TV/
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