French energy giant Total is to sign a $4.8 billion deal to develop an Iranian offshore gas field, the oil ministry said Sunday, in the biggest foreign deal since sanctions were eased.

"The international agreement for the development of phase 11 of South Pars will be signed on Monday in the presence of the oil ministry and managers of Total, the Chinese company CNPCI and Iranian company Petropars," a ministry spokesman told AFP. 

Source: AFP