The oil ministry of Iran announced that it would sign a $ 4.8 billion deal to develop an offshore natural gas field in Iran with Total. The French energy giant Total announced its biggest foreign trade deal after the sanctions among Iran were eased.
“The international agreement for the development of the 11th phase of South Pars will be signed on Monday, before the ministers of the Ministry of Petroleum and Total, the Chinese company CNPC and the Iranian company Petroparas,” the minister spokesman told the AFP.
Total signed a preliminary agreement with Iran in November as the leading partner of the China National Petroleum Company (CNPC) and Iran Petropari. The French company will operate the site with a 50.1 per cent share of $ 4.8 billion.