11/7/2016, 1:01 PM (Source: TeleTrader)
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Chart for: TOTAL

Total, Iran to sign $6bn gas deal

Iran and French energy company Total SA will sign an agreement on Tuesday that will enable further offshore gas explorations in a field in the Persian Gulf, AFP reported on Monday.

The deal to invest in the South Pars field is worth $6 billion, according to Iran’s oil ministry.

Earlier today, the country’s deputy minister for gas told Shana that as a result of the deal, Iran will add up to 100mcm of gas to its production by March 20.

Iran has the largest gas reserves in the world, after Russia.

After the news, Total's shares increased 1.66% at 12:44 p.m. CET.

Breaking the News / VP