Representatives from cooperation parties attend the deal signing ceremony in Teheran, Iran, on July 3, 2017.

Iran and a consortium of Chinese and French energy giants signed a multi-billion-dollar deal here on Monday to develop a major Iranian gas field in the Persian Gulf.

The contract for development of the gas field is worth 4.8 billion U.S. dollars. The contract will be carried out in two phases with a total period of 20 years.