Total may take stake in Iran's Azadegan project

PARIS: French oil major Total may take a stake in Iran's Azadegan oil project under an agreement with Japan's Inpex Holdings, a Total spokesman said on Monday.

"We have a strategic agreement with Inpex which includes taking a stake in the project if that's decided but this is not yet the case," spokesman Paul Floren said, giving no further details.

Inpex has yet to finalise a deal with Iran to develop the Azadegan field located in southeast Iran, near the border with Iraq. It has an estimated 26bn barrels of oil reserves in place.