French major Total on 20 August confirmed its withdrawal from a $4.8bn 20-year deal to develop the 2bn cfd Phase 11 of Iran’s South Pars gas field (MEES, 7 June 2017), saying it was unable to secure a waiver from US sanctions (MEES, 10 August). Total, as operator with 50.1%, said in May it had spent only $40mn on the project thus far. Though widely expected, the exit deals a symbolic blow to Iran, which had hoped Total’s entry would lead to further deals with western majors and...