Prior to the lifting of international sanctions against Iran in January 2016 within the framework of the Nuclear Deal (JCPOA) signed by the major powers (P5+1) in July 2015, the French energy group Total had started effective talks with Tehran with a view to exploring and exploiting petrochemical deposits.
According to information published by Cyceon in October 2016, Total has asserted itself as the most active European company in the Iranian energy sector with heads of agreements valued at USD 2 billion to be finalized by March 20, 2017 in line with a preliminary agreement signed almost two years before the JCPOA.
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