(MENAFN) French oil giant Total has inked a deal with Iranian authorities for a 50 percent share in Iran's South Pars project at a worth of USD4bn.
Additionally, the South Pars will start production by the end of this year, while the first stage of production will see output of 35.000 barrels per day.
Accordingly, Total would finance 50.1 percent of the South Pars 11 project, which needs a while investment of USD4bn.
Meanwhile, Total is also aiming other investments in Iran, involving a 10mn ton-year liquefied natural gas (LNG) plant and an investment in the South Azadegan oil field.
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