Total faces financial, security challenges to Iraqi operations

Doris Leblond
OGJ Correspondent

PARIS, Mar. 20 -- Total is finding it difficult to negotiate "acceptable" financial terms with Iraqi authorities in order to operate in Iraq, said CEO Christophe de Margerie at the Forum for New Diplomacy Mar. 18. The forum holds discussions organized by the International Herald Tribune and Academie Diplomatique Internationale.

De Margerie said security in the country was improving but was not yet satisfactory.

Speaking about his group's presence in Iran, where an international embargo is preventing Total from developing South Pars gas field but where discussions continue, he said, "We are in Iran and don't want to quit."