Total signed a contract with Iran nearly $5 billion

Moscow. July 3. INTERFAX.RU French oil company Total signed on Monday in Teheran the contract to develop the gas field. Total became the first Western oil company, who returned to Iran after the lifting of economic sanctions, Iranian media reported.

According to them, the French company will lead a consortium to develop the 11th phase of the offshore South Pars field. The consortium Total the group owns 50.1% of the shares, Chinese Corporation CNPC – 30%, and the Iranian company Pertopars is 19.9%.

General Director of the group Total Patrick Pouyanne and the Minister of oil of Iran Bijan Zanganeh signed a contract worth $4.8 billion, which is designed for 20 years, reports the Iranian TV channel “Press TV”. Pouyanne will take Iran’s President Hassan Rouhani.