French energy giant Total S.A. signed a
groundbreaking deal on 7th June 2017 to develop Phase 11 of the
South Pars Gas Field in the Persian Gulf, becoming the first major oil and Gas
Company to return to Iran's market after the conclusion of the nuclear deal
with six world powers.
It is the first
contract concluded between Iran and a major western company within the
framework of the Iranian Petroleum Contract, albeit outside of a tender
The deal, worth $4.8
billion, was signed in Tehran by the National Iranian Oil Company, Total Chief
Executive Officer and executives of China National Petroleum Corporation and
Petropars, the French company's partners in the South Pars project.
claims this contract has important affect in relations between Iran and France
and has quadrupled exchanges between two countries.
This contract opens new way to
other countries and helps other industries to develop faster.
It is obvious that it can helps
Iran tourism as well, You know when major Western companies trust to investigate
in Iran it shows that Iran is safe and worth to spend money there.