Iran will finalise the first of its new contracts with French oil giant Total within two months, a senior government official said.

Recent comments by Total's chief executive indicated it was awaiting feedback from the US, Oil Minister Bijan Namdar Zanganeh was quoted as saying in an Iran Daily report, which cited Mehr News Agency.

Total plans to invest in a $2 billion gas project in Iran by the summer, but the decision depends on the renewal of US sanctions waivers, chief executive Patrick Pouyanne said earlier this month, according to the report.

Zanganeh said that no decision has been taken to stop the signing of new contracts but that some contracts have not been finalized since it is a time consuming process.