The French energy firm Total says it has signed a multibillion-dollar agreement with Iran on the development of an Iranian offshore natural-gas field — the first major Western energy investment since international sanctions were lifted against Tehran under its nuclear accord with world powers.
The agreement on developing the South Pars offshore gas field also is Iran’s largest business deal with foreign partners since international sanctions against Tehran were eased in 2016.
The deal includes 30 natural gas wells and two production units.
The China National Petroleum Corporation owns 30 percent and Petropars controls a 19.9 percent stake. Read more here.