Iran plans to finalize gas field development deal with Total

Iran's oil minister Bijan Namdar Zanganeh said that Iran continues negotiations with French oil company Total to finalize a $2 billion deal to develop South Pars Phase 11.

“We hope to finalize the deal and sign an agreement in 2 months,” he said during an interview with state-run IRIB TV, Trend reported.

Total was the first Western energy company to sign a major deal with Tehran since the lifting of international sanctions with its South Pars 11 project in the Gulf to develop a part of the world's largest gas field that Iran shares with Qatar.