Iran signs $5B gas deal with France’s Total SA, Chinese oil company
TEHRAN, Iran — Iran has signed a $5 billion agreement with France’s Total SA and a Chinese oil company to develop its massive offshore natural gas field, the first such deal with foreign companies since the landmark 2015 nuclear deal. Officials signed the agreement in Tehran on Monday. The agreement will see the firms develop a portion of the massive South Pars offshore field, which Iran shares with Qatar.
Total has a 50.1-per cent share in the deal. The stateowned China National Petroleum Corp. has 30-per cent stake and Iran’s Petropars has 19.9 per cent.