On Saturday, French TotalEnergies and QatarEnergy has signed a $1.5 billion agreement to collaborate on the North Field South project.
The head of QatarEnergy Saad Sherida al-Kaabi said TotalEnergies would take a 9.375% stake in the North Field South project, part of the world's largest gas field.
In 1971, the South Pars-North Field, the world's largest gas field was discovered under the Persian Gulf. The North Field is in Qatari waters, while the South Pars is in Iranian waters.
QatarEnergy estimates that North Field holds about 10% of the world's known natural gas reserves, which could last up to 600 years.
