A French oil company Total SA financed the first Western energy deal in the Islamic Republic since international restrictions over its nuclear program were lifted. My using financing this on their own they would avoid US sanctions. Total will evade the remaining sanctions still applied on Iran by the U.S. by using its own cash to finance its share of the investment. In this joint venture Total would take a 50.1% stake, Chinese National Petroleum Company would take 30% stake and Iranian State owned Oil Company would take the remaining stake in the 20 year venture. Total has agreed to develop the 11th phase of a giant offshore gas South Pars field. This deal is an effort to increase foreign investment in oil and gas since the international restrictions over its nuclear program were lifted. Total has a history of conducting business where sanctions are limited, therefore making it difficult to raise America fund for the project. Total has figured out loop holes to help bypass the US sanctions that are still in place. The Iranian Government will be paying total in “gas-condensates” in order to bypass the Iranian financial system. Total is able to sell the gas condensates on the international trade market, to turn into cash. This project is expected to start producing natural gas by 2020. Total share is approximately 60,000 barrels of oil a day. This deal will also allow for the Chinese National Petroleum Company to expand their operation and increase overseas presence as a domestic oil producer.