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NIOC and Total have signed a $5 billion contract


The National Iranian Oil Company (NIOC) has signed a deal with a consortium led by French oil company Total on 3 July 2017 to develop its giant South Pars gas field, the largest natural gas field in the world. The deal, which is Iran’s first with a European oil company in more than a decade, is worth $4.8 billion.

Total has taken a 50.1 percent interest in the South Pars project, and alongside state-owned China National Petroleum Corporation, which holds 30 percent, and Iran’s Petropars (19.9 percent), will begin producing gas for the Iranian market from 2021. Additional information on this contract can be accessed here.

keywords : International Investment , JCPOA , Oil and Gas Contract , Post-JCPOA , Total ,