Shell and Total to sign initial accord with Iran
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Royal Dutch Shell Plc and Total SA will sign initial agreements on Wednesday to develop oil and gas fields in Iran.
The companies will sign accords, with the ministry to develop the South Azadegan and Yadavaran oil fields and the Kish natural gas deposit, Bloomberg reported.
The deals will be the first signed by European companies to develop Iran’s oil fields since sanctions were loosened in January under a deal to curb the Islamic Republic’s disputed nuclear program.
Paris-based Total signed a $4.8 billion accord last month to develop an Iranian gas project.
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