Behind recent posturing by governments and non-governmental organisations over whether international oil companies (IOCs), such as Total and Shell, should be considering new investments in Iran lie a few simple facts: gas demand is rising inexorably; gaining access to reserves is becoming harder; Iran has the second-largest such reserves in the world after Russia; and both companies have been working for years to build a relationship with the Iranians. Total and Shell are in Iran for the long term. It will take more than posturing to dislodge the foothold that they have on the reserves in the huge South Pars field.
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