Aller au contenu principal

Iran to sign $6bn gas production deal with France's Total

This is the first such agreement between Iran and a Western petroleum company after a nuclear deal with world powers took effect in January
Iranian President Hassan Rouhani at phase 12 of the South Pars gas field facilities in a southern Iranian port on the shore of the Gulf on 17 March, 2015 (AFP PHOTO / IRANIAN PRESIDENCY WEBSITE / HO)

Iran will sign a deal with France's Total on Tuesday for the development of gas production at a major offshore field in the Gulf, the Iranian oil ministry said.

The Heads of Agreement (HOA) for the development of Phase 11 of the important South Pars field is worth $6 billion (5.4 billion euros), a ministry spokesman told AFP.

The accord must be finalised within six months, the spokesman added.

The agreement involves a consortium led by Total, which includes the China National Petroleum Corporation (CNPC) and Iran's Petropars.

The deal marks the return of Total to Iran.

It's also the first such agreement between Iran and a Western petroleum company after a nuclear deal with world powers took effect in January, lifting some international sanctions.

The offshore South Pars field, shared by Iran and Qatar in the Gulf, contains some 14,000 billion cubic meters of gas - 8 percent of the world's known reserves.

Middle East Eye propose une couverture et une analyse indépendantes et incomparables du Moyen-Orient, de l’Afrique du Nord et d’autres régions du monde. Pour en savoir plus sur la reprise de ce contenu et les frais qui s’appliquent, veuillez remplir ce formulaire [en anglais]. Pour en savoir plus sur MEE, cliquez ici [en anglais].