May 16, 2018 / 5:30 PM / 7 months ago

Iran's oil minister says Total will not pay penalty if it quits - Mehr

FILE PHOTO: Iranian Oil Minister Bijan Zanganeh talks to reporters during the 15th International Energy Forum Ministerial (IEF15) in Algiers, Algeria September 27, 2016. REUTERS/Ramzi Boudina/File Photo

LONDON (Reuters) - Total (TOTF.PA) will not pay a penalty if it pulls out of a multi-billion-dollar gas project in Iran, Iran’s oil minister said on Wednesday, adding that the French company would not be able to retain its investment in Iran until the project ends.

“They did not say they will pull out. They meant Total might not be able to continue its activities in Iran,” Bijan Zanganeh was quoted as saying by Mehr news agency.

Reporting by Bozorgmehr Sharafedin; Editing by Elaine Hardcastle

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