Iran signs $5B gas deal with French energy giant
- 7 years ago
Iran just signed a $5 billion agreement with French energy giant Total and a Chinese oil company to develop an offshore gas field. Total owns 50.1 percent share in the deal, while China National Petroleum Corp. has 30 percent stake and Iran's Petropars has 19.9 percent. The deal marks Total's return to Iran in their renewed partnership. Iran currently has the world's fourth-largest oil reserves and comes in second in natural gas.