The French energy giant’s signing of a $5 billion contract on Monday elicited a fresh wave of interest among international companies for trade opportunities in Iran.

The Iranian president says a multi-billion-dollar gas deal signed with Total will facilitate transfer of technology and science.

French energy giant Total signed a multi-billion-dollar gas deal with Iran, the first by a European firm in more than a decade.

Total Chief Executive Patrick Pouyanne who is preparing to sing a major gas contract with Iran has hailed the country’s new format of oil sector agreements as “a real improvement”.

As Iran is preparing to sing a much-delayed deal with the French energy giant Total over the development of a major gas project, indications are growing that Tehran is already looking at the political messages that the deal could send to the world.

Zangeneh and Total Chief Executive Patrick Pouyanne met in Vienna on the sidelines of the OPEC meeting on Friday night and discussed the gas deal.

Iran’s Petroleum Minister Bijan Zanganeh says the country is looking into the possibility of bringing in the French energy giant Total for production of liquefied natural gas (LNG) – a scheme that he said could lead to exports of the fuel to Europe.

Amirhossein Zamaniniya, Iran’s deputy petroleum minister for international affairs and trading, says Tehran expects Total to finalize an agreement over the development of South Pars Phase 11 “in less than a month”.

Total became the first Western oil major to sign an energy agreement with Iran in February 2016.

Iran says it understands why Total had to delay a decision to go ahead with the development of a key gas project in the country.