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South Azadegan Oil Field Operated by Iraq and Iran Has Partnered with TOTAL

Iran signs oil contract with France's Total

Iran has signed an oil agreement with TOTAL to develop the South Azadegan oil field which has reserves of 33.2 billion barrels of oil.

TOTAL and Iran have however, not released any details from the deal as Iran's Oil Minister was quoted saying TOTAL is now "studying its participation in the development of the oil field," Zangeneh was quoted as saying by Press TV.

Previously failed agreements with Iran were with the Japanese company, Inpex over a decade ago after US sanctions placed against Iran. However, sanctions were lifted in July 2015 and Iran has been able to engage with the oil and gas, energy sector.

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