Total, CNPC to sign new gas contracts with Tehran

BEIRUT: France's Total and China National Petroleum Corp (CNPC) will sign new contracts on Tuesday with National Iranian Oil Company (NIOC) concerning the second phase of the South Pars gas field, the Iranian oil ministry's SHANA news agency said on Monday.

Using the new Iran Petroleum Contract (IPC) which Tehran announced this year, the contract will be signed between NIOC and a consortium of Total and CNPC and Iranian Petropars as a local contractor, SHANA said.