Total, CNPC to sign HoA with Iran


TEHRAN, November 7, 2016 – Total and China National Petroleum Corporation will sign a heads of agreement for an offshore gasfield development project in Iran, an official from the Ministry of Petroleum said on Monday.


The agreement, expected to be signed on Tuesday, will be Iran’s first under the new contract model with a foreign entity. Reportedly valued at USD 6 billion, the deal will cover phase 11 of the South Pars gasfield and include state-owned Petropars as local partner.