Iran ready to conclude a deal with Total

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Iran is ready to transfer the development of the new gas field South Pars to Total. According to media reports, the National Iranian Oil Company, representing Iran, must sign a contract worth $ 4.8 billion with the French oil and gas company Total.

The Holding is the fourth largest regarding hydrocarbon production and has representative offices in 130 countries.

 It is worth noting that the preliminary agreement, which leads to the conclusion of the Accord, was signed in November 2016. The present agreement was postponed due to inspections. Experts all the time made a contract in such a way as not to violate the sanctions imposed by the US on Iran.

 We recall that the United States imposed sanctions against Iran in 2002 after charges were brought against Tehran in developing nuclear weapons. Then the countries of the European Union joined the United States, and the initiative was supported by the UN Security Council. Most countries refused to extend sanctions against Iran after in 2015 Tehran agreed to halt the development of its nuclear program.

Now Iran remains a country that increases oil production, despite the agreement of the OPEC member states.