TEHRAN — Iranian state TV has reported that the country has signed an agreement with a British consortium to develop an oil field, just as another major company, France’s Total, says it will withdraw from Iran because of renewed US sanctions.

The new agreement is the first between Iran and a company from a key Western ally of the United States since Washington last week announced it will pull out of the landmark 2015 nuclear deal between Iran and world powers.

The United States said it would reinstate sanctions that were lifted under the deal, which would potentially bar European companies from doing business in both the United States and Iran.

Officials from Pergas International Consortium and National Iranian South Oil Co. signed a preliminary deal on the partnership in the presence of the British ambassador in Tehran late Wednesday.

The project would entail the investment of $1 billion to produce 200,000 barrels of crude oil per day during the next decade in the 55-year-old Karanj oil field, which currently produces 120,000 barrels a day.

The US sanctions aim to limit companies from any country from dealing with Iran by prohibiting them from using American banks in their operations. Pergas seems to do little business in the United States, potentially giving it more freedom to operate in Iran.

French oil and gas giant Total has decided to cancel a multi-billion-dollar project in Iran unless it is granted a waiver by US authorities.

The group said in a statement Wednesday that it ‘‘cannot afford to be exposed to any secondary sanction’’ including the loss of financing by American banks.

The 2017 contract for new development at the vast South Pars gas field was the first major gas deal signed with Iran following the 2015 nuclear deal.

Major European powers and Tehran committed this week to keep working together to save the Iran nuclear deal. But President Emmanuel Macron made it clear Thursday that France will not get into a trade war against the United States, despite Paris’ disapproval of President Trump’s decision to scrap the nuclear deal.