Iran to sign over Rs. 31,000 crore gas deal with French oil firm called Total

Posted on:03 Jul 2017 15:45:50
Iran to sign over Rs. 31,000 crore gas deal with French oil firm called Total
03 July 2017 Current Affairs: Iran, the third largest producer in the Organization of the Petroleum Exporting Countries (OPEC), plans to sign a new contract to develop its giant South Pars gas field with France's oil firm named "Total" and China National Petroleum Corporation (CNPC).

The firm Total will grant USD 4.8 billion (Rs. 31,000 crore) to develop a gas field in Persian Gulf alongside China's CNPC and Iran's Petropars.

Total holds a 50.1 interest in the South Pars project with state-owned China National Petroleum Corporation owning 30 percent and Iran's Petropars 19.9 percent.

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