Iran to sign landmark gas deal with French, Chinese companies

Posted on: July 2nd, 2017 by ABC News No Comments

Philippe Huguen/Getty Images(TEHRAN) — Iran is expected to sign a deal with French energy giant Total to develop an offshore gas field in the Gulf, the BBC reports.

The contract will be worth close to $5 billion. It is the biggest foreign deal made by Iran since the majority of the economic sanctions against the country were lifted in 2016.

The deal is expected to be signed on Monday in Tehran, with Total getting a 50.1 percent stake.
The China National petroleum Corp. will hold a 30 percent stake.

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