The French oil and gas corporation Total officially terminated the contract for the development of the South Pars field, said Iranian Energy Minister Bijan Zanganeh.

According to him, it has been over two months since the company announced the withdrawal from the deal.

“The process to replace (Total) with another company is underway,” Reuters reported quoting Bijan Zanganeh. 

Total announced its decision to withdraw from the multi-billion agreement in mid-May, after US President Donald Trump decided to re-impose sanctions against Iran.