The Iran Project

Iran to sign new IPC gas deal with Total for South Pars on Monday -official

A view of the installations in Iran’s South Pars region (file photo)

Reuters– Iran plans to sign a new contract to develop its giant South Pars gas field with France’s Total on Monday, the first major Western energy investment since sanctions against Tehran were lifted, an Iranian oil ministry official told Reuters on Sunday.

“The international contract for development of Phase 11 of South Pars in the framework of IPC (Iranian Petroleum Contract) will be signed on Monday, July 3, at 14:30, at a ceremony in Tehran attended by Iranian oil minister Zanganeh and senior officials from France’s Total, China’s CNPCI and Iran’s Petropars,” the official said. (Reporting by Rania El Gamal; Editing by Andrew Torchia)

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