Iran signs $5B gas deal with France’s To­tal SA, Chi­nese oil com­pany

The Guardian (Charlottetown) - - BUSINESS -

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.

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