EnergyWatch

Total to sign milestone Iran gas deal since sanctions eased

Total is planning to a sign a formal contract with Iran this Monday for the development of the country's share of the world's largest natural gas field. Under the preliminary November accord, Total will control 50.1 percent of the project.

Photo: Milad Payami - Statoil

Iran plans Monday to sign a formal contract with Total SA and China National Petroleum Corp. to develop its share of the world's biggest natural gas field – the first investment in the country by an international energy company since sanctions were eased last year.

Total and CNPC signed a "heads of agreement" with National Iranian Oil Co. in November to develop phase 11 of the South Pars offshore gas field, a deal that was valued then at USD 4.8 billion. Total Chief Executive Officer Patrick Pouyanne will be in Tehran for the signing of the formal agreement, Parastoo Younchi, the Iranian oil ministry official in charge of foreign media relations, said Sunday.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Ørsted aims to be number one on carbon capture

The utility hopes to win the Danish carbon capture and storage tender with a plan to capture 400,000 tonnes of CO2 by 2025 from the company’s biomass-fired combined heat and power stations.

Nordex downgrades forecast

The German turbine manufacturer has had a rougher start to 2022 so far than expected, prompting the company to downgrade guidance by EUR 200m at minimum.

Further reading

Related articles

Latest News

See all jobs