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French energy company Total, China National Petroleum Corporation (CNPC), and National Iranian Oil Company (NIOC) sign a $5 billion investment deal to develop phase 11 of Iran's South Pars gas field, the world's largest. Total will hold a 50.1% stake and act as the operator, while CNPC will have 30% and NIOC subsidiary Petropars will have 19.9%. The project aims to produce 2 billion cubic feet of gas per day, supplying the Iranian domestic market starting in 2021.
Sunday, 2 July, 2017